simon...madmacs....41M shares traded vs Daily average of 25M....to close on the hi of day, and I, believe 52 week high (don't know about that 16.5 print). This is traditionally bullish.
Also , it opened at the previous close , never went lower, rose all day and closed at the high of day.
A Big White Candle, for those whom follow such things...also bullish.
A Marubozu candle in fact...no "Tails", either upper or lower.
"Even more potent long candlesticks are the Marubozu brothers, Black and White. Marubozu do not have upper or lower shadows and the high and low are represented by the open or close. A White Marubozu (wombat: which we have) forms when the open equals the low and the close equals the high. This indicates that buyers controlled the price action from the first trade to the last trade."
I don't want to promote (pump) the stock, but it's looking good, according to traditional technical criteria, but be careful of excessive bullishness. If this happened at a low, I'd say "reversal". Just be cautious.
http://hotcopper.com.au/threads/...mp;direction=previous#.VlaiHC6IXMI |
