Cup and Handle Earnings AMCWDC has earnings this afternoon and is not to long entry level. Trading at earnings can be a crap shoot )o:
Tough to buy around or at earnings day.
No recommendation
The 200 looks good and is sloping up. The 50 does not look so hot and may be trying to cross down through the 100 which would be a bearish cross.
Hard to really look at charts at earnings sometimes as things can change very fast.
I see 3 horrible red candles in purple that began with a bad wick. They are not quite 3 black crows as the bodies do not overlap, but bearish just the same. Sometimes too many red candles in a row can flush out most of the sellers so something to watch. At the bottom we see a spinning top after a small gap down which is a candle of indecision. The string of four candles (3 red, one spinning top) became less bearish because once price hit a certain level, bulls were scratching their heads about letting this go down any lower. Ultimately it did go a bit lower, but not much.
Gapping down on a doji or a spinning top can be a saving grace as gapping down is almost always bearish. Gapping down on a healthy green candle can also be a good thing. When I see a string of bearish candles that lessen in body length and/or become smaller candles like doji's or spinning tops, I watch as the bearishness can be dwindling away. This is called Deliberation and happens on the bullish side as well, or on the way up and candles become smaller or less and less bullish.
A lot depends on where the candle(s) are in the chart to decide whether they are bullish or bearish patterns or candles. Dark cloud cover is much more powerful closer to the top than at the bottom. Dark cloud cover (DCC) consists of a healthy green candle in an uptrend followed by a red candle has it's top over the green candle and closes at least mid way in to the green candle body. Since a red candle opens at the top of the Body and closes at the bottom, which is opposite of a green candle that opens at the bottom and closes at the top, this means price opened higher than the previous day and the bears were able to take price back down inside the green candle day.
The highs and lows of the session are the wicks(tops) and the tails (bottoms) for both green and red candles. Long wicks at the top, especially with little or no tail, can be a warning sign at the top but can even be bullish at the bottom. Long wicks can point to resistance as well and long tails especially at the bottom, can point to support.
No recommendation
