The Yearly CANDLE For MYR currently is Open around $1.36 Jan 2nd and straight to Low 62.5c.
The Thing is for Candles and especially Big candles like Month, Quarter, year etc, is that the next candle tends to Cross the previous by around half.
Half the 2017 Candle Move would be around the dollar level.
Also Candles tend to have a Tail, being either a tail at the top or a tail at the bottom.
The current year MYR candle is Full with no tail ..... YET
There is some possibility, for purely Candle reasons, that the current year candle could rise and close out 2017 showing a tail at the Base. Like a Hammer.
Obviously y'all could figure out that if this 2017 year candle was to become a Hammer, then the SP would be due to get on its bike pretty soon before 31st of December 2017. To create the Tail in this Candle.
If you look at any charts Month, week, quarter, year candles youd' see the vast majority of those have a tail , either both top and base or one or the other.
A solid candle for year is considerably improbable, and this theory would probably be part of some algo bot trading systems to bet against such a thing happening from here until 2018.
MYR Price at posting:
62.5¢ Sentiment: Buy Disclosure: Held
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