Hammer on MPI. Is this the sign?

Looks like MPI is hammering out of a bottom as Hammer candlestick appears in today’s chart. Is this the sign we’ve been waiting for? Hammers are not a strong reversal signal but if we will see a large candlestick tomorrow or a gap up with strong buying then maybe we can say that bulls are now in charge.

Just be extra careful since weekly chart also shows some bearish candlestick that is waiting for confirmation.

Caveat!

One Response to Hammer on MPI. Is this the sign?

  1. […] since weekly chart also shows some bearish candlestick that is waiting for confirmation. Caveat! Hammer on MPI. Is this the sign? Reply With […]

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