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Technology Stocks : Wolf speed
WOLF 21.03-8.0%3:59 PM EST
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To: joelnevison who wrote (3312)7/30/2000 8:36:46 PM
From: Chip Anderson  Read Replies (1) of 10714
 
There are two types of "oxymoronic" candles:

1.) A black candle (filled or hollow) means that the close was higher than yesterday's close - a bullish event.
A filled candle means that the open was higher than the close - a bearish event.
Thus, a filled, black candle is both a bullish and a bearish event which is why I call it an "oxymoronic" candle.

Filled black candles typically occurs because of a large gap up on the open followed by weakness during the trading day and can signal indecision and/or profit taking.

2.) Conversely, a red candle (filled or hollow) means that the close was lower than yesterday's close - a bearish event.
A hollow candle means that the open was lower than the close - a bullish event.
Thus, a hollow, red candle is both a bullish and a bearish event which is why I also call it an "oxymoronic" candle.

Make sense?
Chip
stockcharts.com
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