Harami on DAVIN

We saw some bullishness today after DAVIN fell from 2.60 to 1.40 per share. The last two candlesticks formed a Harami. This pattern means that the bears power is diminishing and a reversal may follow. What we need is a confirmation via a gap up or a long green candlestick. If we consider the fibonacci retracement for our confirmation, it would be good if price will close above the 61.8% Fibonacci Retracement level. The Kijun Sen line at 1.82 may pull the price up but notice also that we have a gap below that needs to be filled. If you want to enter, consider also the gap below.

RSI or Relative Strength Index is at 54

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.

One Response to Harami on DAVIN

  1. Mai Jan says:

    hi, i stumbled upon your blog. it's very technical and it seems like you're really an expert in this matter. anyway, i'm a newbie in pse trading. i had to google some of your technical terms to understand what you're trying to explain. :) but they're helpful.
    what's your analysis on the current movement of DAVIN and SINO?

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