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This "inverted hammer" is supposedly a candlestick pattern that...

  1. justinp
    1,442 Posts.
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    14/08/15
    10:51
    Post #: 15806900
    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.
    DOW Price at posting: $3.75 Sentiment: Sell Disclosure: Not Held
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    lightbulb Created with Sketch.  Great analysis
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