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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: steve susko who wrote (19644)12/8/1998 12:35:00 PM
From: Jenna  Read Replies (2) of 120523
 
CMGI stochastics, demand index marketgems.com
triggered a buy signal that confirmed the candlestick pattern of this morning. careful here however..
this is still an internet stock.. Stochastics which were oversold also broke above the center 0 line triggering a buy signal.

Yesterday the following candlestick patterns occurred:
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 25 white candles and 25 black candles.

A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

Today this candlestick was added:
A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).
Longer shadow means a big difference between the securities high and the price now or really at the end of the day. CMGI was up to 72 already today.. this could signify the end of the downtrend.
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