There is support at prior gap up. Trading can be a waiting game, but selecting a good long entry level is important that is close to support.
Take a look at the rest of the sector as well. It is rare to find a stock performing well, when the rest are performing poorly.
The tail of a LL (long legged) doji can show a support level by dipping it's tail to a level that encourages buying. Just as any other support level, this level may fail later on. But for me it is a good indicator that shows price dipped there but did not like the water temperature at that level.
On the way down, there were 3 black crows which is bearish and consists of 3 decent sized red candles in a row. There are 3 green candles coming up in the last few days but the 3rd candle is not quite big enough to call it a 3 white soldier candle formation. There is a hammer before the 3 green candles.
Not a recommendation. I feel like I never quit learning stuff about trading. I am not sure there is a way to know everything there is to know, but just looking at charts daily, and reading as well as online content helps me a lot to trust myself. I guess I have to love it, or I will lose money to someone else who does (o:
I have been in/out of this swing several times. Little hesitant to go long yet. Thanks for sharing your thoughts.
lauralea
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@transumer, I do not care to trade the stock. If I do not like a stock, sometimes best for me to stay away. I just saw the pattern and posted it cos someone asked me to look at the chart
Kbusa
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@lauralea, I’m a complete newbie, this touches on a question I’ve had brewing in my mind; Do you combine technical analysis with fundamental analysis when you trade, or am I reading too much into your not liking a stock?
lauralea
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@Kbusa, I do not like this stock due to my political beliefs. I more look at charts than fundamentals. As of late, I am sticking more on the value side of things though. For a while fundamentals did not matter it seemed. There was just no telling, but I prefer a fundamentally stronger stock than TWTR right now, but I would not have bought this even last year. Some rules I just do not break and buying things that are against my beliefs is one of those rules. I may miss out..but oh well. There are plenty of stocks out there to trade. Fundamentally, I like to buy stocks I would not mind being stuck with (o:
Kbusa
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@lauralea, thanks for your thorough response. I totally with you, appreciate your principled stance.