CorMedix Inc (CRMD)

[ospreyeye]

$CRMD Chart - currently forming a Hammer & possible bullish reversal pattern - the middle Bollinger Band @ 6.36 is the Key level to close above & turn into support - candles forming above the middle BB and EMA's 4 & 8 = up trend - it's very important for $CRMD bulls that the middle BB and EMA's 4 & 8 do not turn into resistance - that could signal the start of a new downtrend - 5.90 to 6.00 is the Key support level to hold -

http://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=1101

BULLISH HAMMER

Definition

This pattern occurs at the bottom of a trend or during a downtrend and it is called a Hammer since it is hammering out of a bottom. It is a single candlestick pattern that has a long lower shadow and a small body at or very near the top of its daily trading range.

Recognition Criteria

1. The market is characterized by a prevailing downtrend.
2. A small body at the upper end of the trading range is observed. The color of the body is not important.
3. The lower shadow of this candlestick is at least twice as long as the body.
4. There is (almost) no upper shadow.