The disappointment that brought by the bad news about GMA‘s JV with MVP last October 4 seems to have already been accepted by the traders and investors. Its on the first week of this month that the price went down badly with a gap down. GMA is now recovering but it may be slow for now. We can see on the chart that BULLISH GRAVESTONE DOJI formation found after the fall has taken its effect. There might be a headwind along the way like the one we saw last October 9 but bulls are trying to build its camp. Maybe closing the gap soon?
To qualify as bullish gravestone doji there should be a downtrend. Then we see a red body formed at the lower end of the trading range. It will be followed by a Doji, which does not have a lower shadow in the second day. Gap down is not required where the doji will appear.