This "inverted hammer" is supposedly a candlestick pattern that appears at the bottom of a lengthy downtrend. DOW's recent plunge occurred out of a consolidation area, therefore you're misapplying it. A substantial fall on unusually heavy volume is a very bearish event, especially in an extremely bearish sector such as mining services. Of course anyone applying basic TA wouldn't be holding stocks in a downtrending sector anyway.
much less than expectation, page-7
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Last
$5.81 |
Change
0.050(0.87%) |
Mkt cap ! $3.626B | |||
| Open | High | Low | Value | Volume |
| $5.82 | $5.85 | $5.78 | $545.3K | 93.60K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 3322 | $5.81 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.82 | 1302 | 15 |
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| Last trade - 11.14am 08/11/2024 (20 minute delay) ? |
| DOW (ASX) Chart |
