The morning star doji is a three-candle bullish reversal candlestick pattern that appears in a downtrend. A long red candle appears first, followed by a Doji candle that appears below the body of the first. It is seen as a reversal indication if it is confirmed the next trading day.
The Morning star doji pattern appears after a decline. The first candle is a massive red candle with a clear downward trend. The bears predict the stock will continue to decline until the next candle is formed. It's a doji, which indicates that you're unsure. The bulls and bears struggle for control throughout the day, but the price remains relatively unchanged from the start. This is causing worry among the bears. The price decrease was expected to continue, but the appearance of the doji changed their views. If price reverses its downward trend, as the doji star forecasts, the bulls will triumph and the shorts will flee for shelter, assisting in the upward movement of price.