need help!! candle stick chart

Discussion in 'Technical Analysis' started by cmlee, Mar 20, 2005.

  1. cmlee

    cmlee Member

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    Hi guys,
    can someone help me to interpret the candle stick of this chart?
    What will happen next? price drop further?
    thanks
     

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  2. Satinder

    Satinder New Member

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    Hi Lee

    Yes according to me the prices would fall as per just viewing your charts. Even if you want then I can help you out in pin pointing its target price. just post the scrip code of the stock as well as listed in NSE or BSE & I will post the target price if I get the data for the same.

    Regards
     
  3. Traderji

    Traderji Super Moderator

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    On the contrary I think the stock has bottomed out (see the long tails on the last two candle bars), also I see a bullish divergence forming in the histogram indicator.
     
  4. cmlee

    cmlee Member

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    how about this?
    will the price drop further the next day, continuing the downtrend?
     

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  5. junky

    junky New Member

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    Hi guys,
    On the querry from Lee I tend to agree with Traderji. The signs of bottoming up are there but it is not confirmed as no morning star or doji has occurred. Candlestick is a beutifull representation of investors sentiments and the first chart suggest that though majority would like to even buy the stock at highr prices, the firm consesus has yet not emerged.


    with regards from junky
     
  6. sudoku1

    sudoku1 Well-Known Member

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    Last edited: Apr 28, 2011

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