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Wednesday, June 08, 2005 10:27:18 AM
Here something I found to address your question by doing so:
"As for the low volume variety, it is not as strong a signal as that doji with a long tail on high volume, but if the sell off down to the support or the doji has been on low volume, the low volume doji is just fine; it can indicate that the move to the upside is just around the corner (the next day or two). Again, the pattern is just a signal and not a ‘buy’ signal. Let there be confirmation of the move the next day (it actually starts up), and then make the move."
(American Bulls said there was a doji yesterday, FYI)
Basing formations are periods of price consolidation when a stock moves more or less sideways for a number of weeks after earlier advances.
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