Tuesday, July 21, 2009

Update on Dragonfly Doji in Relcap - 21st Jul 09

Daily chart of RelCap:


Yesturday it formed a hanging man candlestick which is bearish, also it formed near the resistance line. One of the confirmations of this candlestick pattern is taken by next day's Gap down open. But today it didn't open Gap down. Still a bearish candle is a bearish candle so I am moving my stop loss to 857 - filter for my next 25% holding.

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