Equis - Candlesticks Review of Jakarta Composite (id;JSC)
as of 12/04/2008 A white body occurred (because prices closed higher than they opened). During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 32 white candles and 18 black candles for a net of 14 white candles. A bullish harami occurred (where the current small white body is contained within an unusually large black body). During a downtrend (which appears to be the case with Jakarta Composite) this pattern implies an end to the decline as the bears appear to have exhausted themselves. During an uptrend the bullish harami pattern is bearish as the bears appear to be gaining strength as the bulls weaken. A hammer occurred (a hammer has a long lower shadow and closes near the high). Hammers must appear after a significant decline or when prices are oversold (which appears to be the case with Jakarta Composite) to be valid. When this occurs, it usually indicates the formation of a support level and is thus considered a bullish pattern. A hanging man occurred (a hanging man has a very long lower shadow and a small real body). This pattern can be bullish or bearish, depending on the trend. If it occurs during an uptrend it is called a hanging man line and signifies a reversal top. If it occurs during a downtrend (which appears to be the case with Jakarta Composite) it is called a bullish hammer. 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). 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. This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. Equis accepts no liability whatsoever for any loss arising from any use of this expert or its contents. No virus found in this outgoing message. Checked by AVG. Version: 7.5.519 / Virus Database: 269.22.13/1375 - Release Date: 12/04/2008 11:32
