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Strategies & Market Trends : Strictly ..... Bottom Fishing
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To: Sidney Reilly who wrote (482)7/22/2009 5:41:24 PM
From: chowder2 Recommendations  Read Replies (1) of 489
 
A long tail on the bottom means buying showed up when price hit the low of the day. (Sometimes referred to as a bottoming tail.)

A long tail on top means selling showed up as price hit the high of the day. (Sometimes referred to as a topping tail.)

In order for candlesticks to have any degree of accuracy, you need to have a stock with lots of volume on average. The stock you presented isn't worth the chart it's shown on because of the little amount of volume it trades, some days it doesn't trade at all.

If a pink sheet stock doesn't trade an average of a million shares a day or more, candlestick charting isn't going to be very helpful with reflecting what is going on with price movement.
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