The charts say a reversal may come.

Hi All,

Let me preface this post by saying that I do not own any anymore SGH (sold just after AGM at a big loss), nor do I have interest in buying this share again.

Today SGH found a Dragonfly Doji. For the uninformed, this is a candlestick pattern where the open and close price are the same, but the with a long tail downwards. SGH has represented this pattern today with an open and close of 0.575, and a low of 0.545.

What does this mean?
It means that for the majority of the day, the bears had control; pushing the price down. But towards the end of the day support was found and the bulls recovered the price to it's original state. This indicates that support and buying pressure has been found.

What does this tell us about the future?
Dragonfly Doji's are a strong indicator of a reversal in downtrend. These are not a sure bet, just an indicator. If SGH is green for the next two days then the doji will be confirmed (this is good news for holders).

If I was more of a punter, I'd buy a parcel. But- I have been let down by SGH management one time too many and I will be staying away. Remember: this is my opinion only, DYOR, do not invest on information from HC.

GLTAH.
Dom.

See Dragonfly Doji's: http://www.investopedia.com/terms/d/dragonfly-doji.asp