GREY:HCIZF - Post by User
Post by
saron Feb 03, 2001 9:08am
319 Views
Post# 3252486
Technical view
Technical view While it is sometimes difficult to chart these penny stocks HCI is developing a very nice pattern as shown below.. The first bullish trend indicator was the Inverted Hammer that occured 3 days ago and following this we had a Doji occur that indicates after a period of price decline the selling pressure may be weakening. Doji indicate that the forces of supply and demand are becoming evenly matched and a change in trend may be near. Doji alone are not enough to mark a reversal and further confirmation may be warranted. Yesterdays price action may very well be a very good sign of price reversal as the long white candlestick indicates strong buying pressure. After extended declines, long white candlesticks can mark a positive turning point or support level.
