$IMMB Our chart looks beautiful >> In the link pro
Post# of 263
Posted On: 02/08/2013 11:50:28 PM
$IMMB Our chart looks beautiful >> In the link provided, we see a classic candlestick pattern called a hammer. What happened to cause this? The stock opened, then at some point the sellers took control of the stock and pushed it lower. Many traders were shorting this stock thinking it was headed lower.
But by the end of the day, the buyers took control, forced those short sellers to cover their positions, and the stock had enough strength to close the stock at the top of the range. So, this is obviously very bullish!
Daily Chart
But by the end of the day, the buyers took control, forced those short sellers to cover their positions, and the stock had enough strength to close the stock at the top of the range. So, this is obviously very bullish!
Daily Chart
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