gravestone doji

SHORT TERM- By definition EXM closed on a Bullish Gravestone Doji and with money flowing back into the stock over the last week we should hopefully see a rally.

LONGER TERM - Story starting to come together- I am a happy camper!

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Definition of a Bullish Gravestone Doji :-


The first day (yesterday) is a red day confirming a bearish trend, closing at the lower trading range near the days low
- The second day is gravestone doji day (today), one that has the identical opening and closing price, but the upper wick should be well into the previous days body(in this case well above).
- The lower wick of the second day should be non-existent or very little.
In a down trending market, buyers rally price briefly, but are not able to get the market to close above the days open. This forms the classic Gravestone Doji, named for its apparent similarity to the traditional gravestone.

Although this formation is weak in signal strength, the rally illustrated by the Gravestone Doji higher wick is a warning for shorts that the down trend is losing momentum and bears may retake the market soon.

-Gravestone Doji Market Psychology
Any Doji candle by definition has the close at or near the close price. Gravestone Doji's have a high wick reflecting a rally during the days trading. Candlestick traders will watch the following day to see if buyers are able to take control of the market trend. When day-threes price holds above the Gravestone Doji, it suggests that short positions may cover their exposure, closing out their sell positions and leading to the weakening of the bear market. Many bottom pickers will start buying once that occurs, leading to a bullish reversal.

Confirmation for the Gravestone Doji pattern is strongly suggested for this pattern.
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Lets hope we're away!!!!