PHTM - what kind of doji?

[troyresearch]

OK here's another one for you.

A doji formed on PHTM last Friday - the only question is what type. Achelis suggests it's a dragonfly - while other sites I've cross-checked this on (including t2w) suggest a dragonfly looks more like a 'T'. The appearance of this at short term resistance would suggest a pullback. Any suggestions for other things to look at for confirmation?

 

[troyresearch]

26 reads but nobody has anything to say?

 

[Helenqu]

Hiya,

I use candlesticks a lot in my UK stock swing trading and I tend to look at context of the candles rather than worrying too much about names etc. As you no doubt know you will very frequently get dojis at support/resistance levels because of the market "indecison" those levels represent. In the case of PHTM at the moment it's not really doing anything it's just cruising along midway between the BBs, seems pretty happy at the 125 level. For those reasons for me it would't be one to take any notice of at the moment. If it hits the 120 support and then produces a tweezer bottom/hammer then it might be worth looking at but even then there's probably only going to be a 10/15p move in it for short term trading.

 

[troyresearch]

Hiya,

I use candlesticks a lot in my UK stock swing trading and I tend to look at context of the candles rather than worrying too much about names etc. As you no doubt know you will very frequently get dojis at support/resistance levels because of the market "indecison" those levels represent. In the case of PHTM at the moment it's not really doing anything it's just cruising along midway between the BBs, seems pretty happy at the 125 level. For those reasons for me it would't be one to take any notice of at the moment. If it hits the 120 support and then produces a tweezer bottom/hammer then it might be worth looking at but even then there's probably only going to be a 10/15p move in it for short term trading.

Thanks Helen, appreciate you taking the time to post your thoughts.