Posted On: 05/19/2014 12:37:28 PM
Post# of 56324
Investopedia explains 'Spinning Top'
If a spinning top formation is found after a prolonged uptrend, it suggests that the bulls are losing interest in the stock and that a reversal may be in the cards. On the other hand, if this formation is found in an defined downtrend, it suggests that the sellers are losing conviction and that a bottom may be forming.
The later "the sellers are losing conviction and that a bottom may be forming" would be my take if today finishes with what appears to be as of right know a "Spinning Top" Candle.
Wish I could post my TD Ameritrade Think or Swim Charts..... Not to mention this is the third time we have tested this support on the chart @ around .056
http://www.investopedia.com/terms/s/spinning-top.asp
If a spinning top formation is found after a prolonged uptrend, it suggests that the bulls are losing interest in the stock and that a reversal may be in the cards. On the other hand, if this formation is found in an defined downtrend, it suggests that the sellers are losing conviction and that a bottom may be forming.
The later "the sellers are losing conviction and that a bottom may be forming" would be my take if today finishes with what appears to be as of right know a "Spinning Top" Candle.
Wish I could post my TD Ameritrade Think or Swim Charts..... Not to mention this is the third time we have tested this support on the chart @ around .056 http://www.investopedia.com/terms/s/spinning-top.asp
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