Pull Back?
Dark cloud cover appeared today, for now. Candles can change quickly if buyers come in.
I like this stock but it can be very volatile for the sector it is in. BLD can make a large gain in one session, but can pull like a witch when it is time to go down. Why it is more volatile than many in this sector? I have no clue. I have traded it enough to feel it is though.
Dark cloud cover can be powerful at a top, and is a 2 candle pattern. The first is a good sized green candle. The next day a red candle opens (open is top of red body) above the close of the green candle (top of green body). This indicates that even though price opened higher, the bulls were unable to stop price from going to or past the midline of the 1st green candle. Not always correct but many would pay attention to this candle pattern. If the cloud cover were to become an engulfing candle, it would be more bearish.
On the M side of the chart, there is a candle pattern called Deliberation leading to the top of that pattern. It would be considered bearish deliberation as the candles become smaller and less bullish as price rises. The same can happen on the way down, where candles become less and less bearish, and it would be bullish deliberation. There is bullish deliberation at the bottom.
It is a little odd that price is so far above the 50 day simple moving average, yet the 50 has not crossed up through the 200 as of yet. The 50 does look like it is trying and that would be a bullish crossover that many call a Golden Cross. The 50 needs to cross up and through the 100 as well.
On this chart, I see an M and a W. I like an M better a W (o;
I missed this one on this last leg up. I am waiting to see what happens like my sun sign, Capricorn, known to be cautious, methodical and slow. I wish I was more of a risk taker sometimes with my money. I will take a risk in a heartbeat, until it comes to money )o:
No recommendation.
I like this stock but it can be very volatile for the sector it is in. BLD can make a large gain in one session, but can pull like a witch when it is time to go down. Why it is more volatile than many in this sector? I have no clue. I have traded it enough to feel it is though.
Dark cloud cover can be powerful at a top, and is a 2 candle pattern. The first is a good sized green candle. The next day a red candle opens (open is top of red body) above the close of the green candle (top of green body). This indicates that even though price opened higher, the bulls were unable to stop price from going to or past the midline of the 1st green candle. Not always correct but many would pay attention to this candle pattern. If the cloud cover were to become an engulfing candle, it would be more bearish.
On the M side of the chart, there is a candle pattern called Deliberation leading to the top of that pattern. It would be considered bearish deliberation as the candles become smaller and less bullish as price rises. The same can happen on the way down, where candles become less and less bearish, and it would be bullish deliberation. There is bullish deliberation at the bottom.
It is a little odd that price is so far above the 50 day simple moving average, yet the 50 has not crossed up through the 200 as of yet. The 50 does look like it is trying and that would be a bullish crossover that many call a Golden Cross. The 50 needs to cross up and through the 100 as well.
On this chart, I see an M and a W. I like an M better a W (o;
I missed this one on this last leg up. I am waiting to see what happens like my sun sign, Capricorn, known to be cautious, methodical and slow. I wish I was more of a risk taker sometimes with my money. I will take a risk in a heartbeat, until it comes to money )o:
No recommendation.
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