Darth, the trading pattern you are looking at is called a Doji. The perfect Doji would have the same opening and closing price, however, there is some interpretation that must be considered. If the difference between the open and close prices is within a few ticks, it is considered more than satisfactory.
A Doji preceded by up days, in a long upward trend, is very meaningful. A Doji means there is uncertainty and indecision. The advantage now goes towards the bears.
stockcharts.com[h,a]dbclyimy[pc25!c50!c200!f][vc60][iut!Ub14!Ua12,26,9!Lc20!Lh14,3]
If you will look at the chart, a similar Doji appeared on May 1, the price was at 52.50. The trend reversed and CORS bottomed out at 48.50 before turning up again.
I see another similar Doji around April 17-18 followed by a very short trend reversal. However, that one didn't appear at the top of a trend.
The RSI Indicator and the Stochastic indicator both show this stock being oversold.
If you hold a position, you may want to consider some profit taking. If you're looking to take a position, you may have an opportunity soon, provided there isn't a catalyst to keep the stock in oversold range.
Just my opinions,
dabum |
