Trader's Logbook

Once has been considered a strong resistance that took DNL 3 tries before it can break is now our strong support for price not to go down. This support zone can be seen around 5.8 – 5.88. Last week we saw DNL went down for 3 successive days but manage to stop the selling pressure. Last 3 candlesticks looks like a Morning Star. This is formed when we see a long red candlestick followed by a spinning top with either red or green color then followed by a green candlestick. This formation suggests that the stock have reach the bottom and may reverse its path. Is it really reaching the bottom this early?

Caveat!