Bullish piercingline patternSomeone posted the AmericanBulls site and on Friday they posted this.I hope they are right and it correlates with a news release from Sonora.Time will tell.
Search Ticker Not Updated since 12/8/2006 12/11/2006
FV
FIRESTONE VENTURES INC
Daily Commentary
Our system posted a BUY-IF today. The previous SELL recommendation was issued on 11.15.2006 (23) days ago, when the stock price was 0.5100. Since then FV has fallen -13.73% .
A bullish pattern has developed and a BUY-IF alert is issued today. The task is now to confirm the validity of this bullish pattern. We will guide you through this process but the prime star of this game is nobody but you. First you must do your homework. A good starting point may be to keep an eye on after-hours and futures trading to get preliminary hints about the direction of the market. Related news, events, economic data, and the world stock markets should also be closely followed prior to confirmation session.
There are three possible cases of confirmation. You have to follow the next session carefully to check if these cases will hold or not:
The market opens with an upward gap, signaling a bullish sentiment in the first case. Your benchmark will be the opening price. If the prices stay over the benchmark, go long. Any white candlestick with an upward gap is a valid confirmation criterion.
In the second case, the market opens at a level, equal to or below the previous day’s close. The benchmark is that closing price. If prices during the session stay over the benchmark, go long. Any white candlestick closing above the previous day’s close is the second confirmation criterion.
If, however, in both cases, the prices during the session start coming below the benchmark, avoid buying. Sell if you feel a definite tendency in prices to close the day below the benchmark.
The third case of confirmation is rarely observed. The market opens with a big downward gap suggesting a very bearish day, and the day ends with a long white candlestick, but still closing below the previous day’s close. However, such a day satisfies the third confirmation criterion and in this case the closing price of the long white candlestick will be taken as the price of confirmation.
If one of the three confirmation criteria is not fulfilled, or in case of a black candlestick or a doji on the confirmation day, the BUY-IF alert remains valid, however without confirmation and the three confirmation criteria are then sought in the following day. The only exception is the long black candlestick. Any long black candlestick following a BUY-IF alert makes it (the signal) void and invalid.
We do not suggest any new short positions given the bullish alert. The short sellers should consider covering their positions if the market confirms the BUY-IF signal. Otherwise, existing short positions should be carried.
Data provided by: End of Day Data
BUY-IF
0.4400
+0.0100 +2.33%
Candlestick Analysis
Today’s Candlestick Patterns:
White Spinning Top
Bullish Piercing Line
Today a White Spinning Top was formed. This represents complete indecision between the bulls and the bears.
For more about this candlestick click here.
The last two candlesticks formed a Bullish Piercing Line Pattern . This is a bullish reversal pattern that marks a potential change in trend. Though it is highly reliable confirmation is still recommended.
For more about this pattern click here.
Stock Quote
Day's Close 0.4400
Previous Close 0.4300
Previous Open 0.4400
Change +0.0100
% Change +2.33%
Volume 98,050
Stock Activity
Day's Open 0.4300
Day's High 0.4500
Day's Low 0.4200
50-Day Close M.A. 0.4715
200-Day Close M.A. 0.4334
65-Day Volume M.A. 102,337
Two-Year Signal History
Date Price Signal $100
Became
11.15.06 0.5100 Sell 1,171
11.10.06 0.4700 Buy 1,079
11.07.06 0.4600 Sell 1,079
09.28.06 0.4000 Buy 938
09.19.06 0.4400 Sell 938
08.25.06 0.3900 Buy 832
08.14.06 0.3900 Sell 832
08.10.06 0.3900 Buy 832
07.10.06 0.4800 Sell 832
06.27.06 0.4100 Buy 710
06.13.06 0.4000 Sell 710
06.02.06 0.4400 Buy 781
05.26.06 0.5200 Sell 781
05.02.06 0.5900 Buy 887
04.28.06 0.6000 Sell 887
04.25.06 0.5900 Buy 872
04.11.06 0.6800 Sell 872
04.06.06 0.6300 Buy 808
04.03.06 0.6800 Sell 808
03.28.06 0.4100 Buy 487
03.10.06 0.3900 Sell 487
03.07.06 0.3900 Buy 487
02.21.06 0.3000 Sell 487
02.17.06 0.2900 Buy 471
02.08.06 0.3000 Sell 471
11.18.05 0.1500 Buy 235
10.18.05 0.1700 Sell 235
10.14.05 0.1600 Buy 222
10.05.05 0.1800 Sell 222
07.06.05 0.1300 Buy 160
03.15.05 0.1600 Sell 160
01.14.05 0.1000 Buy 100
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