Quote:
Originally Posted by Stockbear
I have attached the image of the Ikeja Hotels to a word document and added commentary. All stock chart gurus shold please comment on the chart as I am a learner.
Please note don't place any weight on my comments until a knowlegdable person adds their own comment.
Caveat empty patapata.
P.S. Those that have something to say should add their commentary to the word doc save and repost. This way all comments on a specif stock are kept in one place for each day unless different charts are posted on the same stock.
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stockbear,
u are becoming good at this u know. a note though. while u are right it is a dragonfly doji and would suggest a drop in the coming day or so, the explanantion for the formation of the dragonfly is kinda backwards. u see a dragonfly doji occuring in an uptrend would mean that after opening, prices traded mostly downwards (profit takers descending
). very few buyers if any at all were willing to bid the price higher and sellers dominated the market. however some buyers surfaced later and bid the price back up to its opening price but no higher hence why the opening and closing prices were basically the same.
nice one