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Is this the bottom of a drop or a start of another drop? Is this the bottom of a drop or a start of another drop?
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Is this the bottom of a drop or a start of another drop?

This is a discussion on Is this the bottom of a drop or a start of another drop? within the Candlesticks forums, part of the Technical Analysis category; Hi All, The stock price has dropped three days in a row then it forms a (Please refer to the ...

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Old Nov 2, 2007, 12:24pm   #1
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Is this the bottom of a drop or a start of another drop?
Hi All,

The stock price has dropped three days in a row then it forms a (Please refer to the second picture the small one) hammer like formation (Open 141.5, High 142, Low 135, Close 138), Second day it forms like a doji ( Open 138, High 139, Low 135, Close 138), Two straight days the low was 135 making a tweezer bottom, but the third day (Open136, High 139, Low 130, Close 137), the high was 139 same as yesterday is this a tweezer top? the day end like a hammer with a long shadow...Can someone help me with this problem if this is a bottom formation or just a beginning of another drop.
Thanks..

P.S: The first picture the big one is the picture of the whole trend...
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Old Dec 10, 2007, 7:24pm   #2
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I'm no candlestick expert but it seems like the market is still deciding what it wants to do. I basically see two dojis next to each other at average volume. If my money was on this, I would treat the two daily dojis as one session of indecision. What I'm reading from the hammer (or the second doji) is that the market tested a low point but failed to close at that low point. To me, this means that the bears are running out of steam and that a reversal might be on the horizon. Give it one more day to see what happens.
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Old Dec 10, 2007, 7:29pm   #3
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oops, i just realized that this thread is a month old. Hope it turned out alright for you
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