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.
This "inverted hammer" is supposedly a candlestick pattern that...
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Last
$5.85 |
Change
0.135(2.36%) |
Mkt cap ! $3.901B | |||
| Open | High | Low | Value | Volume |
| $5.70 | $5.85 | $5.70 | $1.103M | 190.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 18 | 1754 | $5.84 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.85 | 148332 | 22 |
View Market Depth
| Last trade - 14.29pm 19/11/2024 (20 minute delay) ? |
| DOW (ASX) Chart |