World Surveillance Group Inc (fka WSGI)

[SEBASS]

GTE RATED BUY. WHITE CLOSING MARUBUZU FORMED.

http://americanbulls.com/StockPage.asp?CompanyTicker=GTE&MarketTicker=AMEX&TYP=S

Good luck to us and continuation on Monday.

WHITE CLOSING MARUBOZU
http://www.candlesticker.com/Cs15.asp

Type: Reversal/Continuation
Relevance: Bullish
Prior Trend: N/A
Reliability: Low
Confirmation: Required
No. of Sticks: 1

Definition:

The White Closing Marubozu is a single candlestick pattern characterized by a long white body with no upper shadow. This is an extremely strong bullish candlestick pattern.

Recognition Criteria:

1. A White Closing Marubozu has a lower shadow but no upper shadow.
2. The day opens, the prices then slightly go lower creating the lower shadow but then prices continue to go up all day thus forming a long white day.
3. The day then closes at the high of the day and hence with no upper shadow.


Explanation:
The White Closing Marubozu is a single candlestick pattern characterized by a long white body with a shadow on the open and but no shadow on the closing end of the body. This candlestick shows that the day opened and then prices went lower slightly, however it was followed by a rally that drove the prices over the opening price and the rally continued all day ending with a closing price equal to the high of the day. Hence the bulls were very strong during the day except the initial phase of the session. The bull strength caused some concern among the bears leading them to cover their short positions thus adding fuel to the rally.

Important Factors:

What a White Closing Marubozu says about the future course of the prices depends a lot on the general picture just as in the case of White Marubozu. White Closing Marubozu can possibly be the first part of a bullish continuation pattern or it may also be interpreted as a bearish reversal candlestick pattern depending on the preceding day's candlesticks.

The White Closing Marubozu is a single candlestick pattern with low reliability. It only reflects one day's trading and it may show the continuation of the trend but it may also indicate reversal. It needs to be used with other candlesticks for a better and healthier judgment about the status of the trend.