DOW 1.05% $5.78 downer edi limited

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

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    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.
 
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