March 19, 2015
Continue Reading Chart Bar by Bar
The last bar (on March 18) was a bullish candlestick; open low and close high. We see the candlestick left a long tail, there is a name for this candlestick, hammer candlestick.
Hammer candlestick has a reversal characteristic. Especially when the Hammer appear at significant level, such as support or resistance. In our case here, we see the candlestick is somewhat at the resistance level. This provide you a clue that the next candlestick maybe ended higher than Hammer.
But do not get too hung up on what you read here. It is always easy when you look back. Therefore, it is always a training in technical analysis to read the bar on the last one and make your trading speculation to the right. The more that you practice the better you are. Have fun!
However, this can’t not make you a living. You still have to look into the big picture.
March 19, 2015 Straits Times Index
STI open gaps up at 3375.83 points, first deep down and drive north and ended high at 3386.16 points. STI has moved up 0.73 percent.
Set the MACDScan result on this site to see what are the stocks have MACD signal.
March 19, 2015 Straits Times Index
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Watch this space here, some great stock will be analyse here. See you more.
Moses
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