Doji on SMC

SMC hit the 71 mark yesterday with some bonus. This mark is where the Kijun Sen line is on weekly chart. So technically it can be the reason for its ascend. Now that it has reached the destination, we might see SMC to correct. Today’s candlestick is a candidate for our cue for the stock to correct. Doji candlestick means the bulls and the bears are now in equilibrium as to where they want the price to go. Since the candlestick appears after the rally, it could mean that the bulls are already tired and may take some rest.

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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