candlestick: meeting lines

Hi All

For those of you who look at charts, particularly Candle charts, there is a particular formation that occurred last week that MAY (and I stress the word "may") have signaled a reversion back to the existing uptrend currently in place.

Pay close attention to the bars of Oct 28 and Oct 29.

28 October saw a thick red bar closing on its low of that day of 13.5c

On the 29 October, the stock gapped lower hitting a low of 12c and finished the day unchanged at 13.5c - a great finish considering how the market was that day.

The significance is the closing prices of these 2 days. First the lower close of 13.5c on the 28/10 then on the 29/10 buyers took the stop up to "meet" the previous days close - thus closing unchanged for the day. This is what the Japanese call a "Bullish Meeting Lines".

Here is some literature if you are interested:

http://www.candlesticker.com/Cs36.asp

Cheers
Babylon1