Posts tagged ‘Doji’

April 1, 2011

STP’s Doji at the Top

I’m calling a pause on STP’s head and shoulders.  Today’s test of what I felt is the point of resistance was weak, ending up with a doji at the top of a trend.  Therefore I’ll call it.  Reverse.  (But can I say I hope for a break in the neck line? 🙂

 

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April 1, 2011

WFR’s Doji

WFR tested past the resistance noted previously. The stock ended up with an engulfed doji, which normally is an indication of reversal in an uptrend, but do we even consider the past few marks an uptrend. I’m considering this doji just a break before the move.  I like to trade the MA crosses and in this case, the 10 is above the 13 which, in WFR’s case, is usually a call to move up.
I suspect we’ll see an move up because of the two, but as the first WFR analysis called for, I will be waiting for the PSAR confirmation before I enter. If you notice, the PSAR was never cleared for the next uptrend.