Doji Star on TA’s weekly chart

Weekly: TA has been going down for many weeks now and for those who are waiting for a possible rebound on TA and escape with minimal loss may have the chance to do it this week. Based on weekly chart, we have a reversal pattern via Bullish Doji Star. As we can see on our weekly chart, bears were in control but now a change is implied by the appearance of a Doji Star which shows that the bulls and the bears are in equilibrium. The downward sentiment is dissipating. Since Dojis are not strongly reliable, we need to see a confirmation via a long green candlestick or a gap up. If this will happen, we might have a rally this week and next week.

All Ichimoku elements are bearish as of this time. If you want to play with this stock, remember to minimize your greed.

Daily: Daily chart shows no sign of either going up or going down. It is so far heading side ways based on how the candlesticks are formed. But Ichimoku is saying that we are still in a downward trend.

RSI or Relative Strength Index is at oversold level. There is room for momentum trading.

Caveat!

The following two tabs change content below.

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.

2 Responses to Doji Star on TA’s weekly chart

  1. […] a Doji below the long red. This pattern is called Bullish Doji Star. Just like what we have seen on TA’s weekly chart, this might be the reversal point for the […]

  2. […] a Doji below the long red. This pattern is called Bullish Doji Star. Just like what we have seen on TA’s weekly chart, this might be the reversal point for the […]

Leave a Reply

}