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BHP

 
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abbo



Joined: 12 Sep 2004
Posts: 148
Location: australia

PostPosted: Tue Oct 12, 2004 7:47 pm    Post subject: BHP Reply with quote

Hello Candle1.
Could you comment on the chart for BHP. It appears to me to be a short proposition but I am confused somewhat by the candle. The breakdown whilst significant has the close higher than the open indicating there are still buyers into the session even though it has gapped down. Thanks
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candlestick1
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Joined: 27 Jun 2004
Posts: 503
Location: Houston, Texas

PostPosted: Tue Oct 12, 2004 9:31 pm    Post subject: Stock trading basics Reply with quote

The candlestick signals are the stock trading basics that reveal what the inestors are thinking. In the case of BHP, note the dark candles at the top of the trading in the past few days. The gap down needs to be analyzed for nothing more than what it represents. After 3 days of opening at the top of the price range, indicating that once it opened, no more buying occurred, then a gap down. Now the stochastics are turning down, even though it traded higher than the open, the trend is what needs to be considered. Stock market basics, which way is the trend?
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