This "inverted hammer" is supposedly a candlestick pattern that appears at the bottom of a lengthy downtrend. DOW's recent plunge occurred out of a consolidation area, therefore you're misapplying it. A substantial fall on unusually heavy volume is a very bearish event, especially in an extremely bearish sector such as mining services. Of course anyone applying basic TA wouldn't be holding stocks in a downtrending sector anyway.
much less than expectation, page-7
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Last
$5.66 |
Change
0.090(1.62%) |
Mkt cap ! $3.801B | |||
| Open | High | Low | Value | Volume |
| $5.61 | $5.66 | $5.58 | $6.742M | 1.195M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 3997 | $5.62 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.67 | 10618 | 4 |
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| Last trade - 16.10pm 12/09/2024 (20 minute delay) ? |
| DOW (ASX) Chart |