Gravestone Doji on PX
Did PX just lost steam after the rally last Friday? The candlestick today is what we called a Gravestone Doji. This is a bearish signal especially if it show up after the rally. Bulls were in control during the uptrend but now a change is implied by the appearance of a Gravestone Doji which shows that the bulls and the bears are in equilibrium. The upward energy is dissipating. But we need to see a confirmation tomorrow since this reversal pattern is not strong. If support will hold at 78.6% Fibonacci Retracement level then there is a chance PX will continue to move up. The gap up created at the opening today is also a threat. Monitor tomorrows candlestick to be able to have a sound decision.
More from my site
Latest posts by felix (see all)
- Philippine Stock Market – Update on selected stocks 4/21/2017 - April 23, 2017
- Philippine Stock Market – Update on selected stocks 3/31/2017 - April 1, 2017
- Philippine Stock Market – Update on selected stocks 3/17/2017 - March 19, 2017