Replies to post #8110 on Market & Research Corp. (fka MTRE)

[Brookwinn]

Charts and patterns are interesting...often encouraging, but sometimes they don't tell the whole story, IMO. There are so many factors that affect a share price, that a chart alone cannot predict the future. The chart can only reflect what has already happened to a certain point, and that is based on the information that was available to that point. The moment new information comes into play, the forces that move the SP up and down have changed, and the trend can change.

For example, when you look at the CCWW chart, you can see how the events and news over the past months have played their way out on the chart. I think the commentary on the dragonfly doji is correct - we have have hit a point of equilibrium - a holding point waiting to see where we go from here. But, we also know that news is pending anytime, and news will trump the chart and set us on a new course...hopefully that course will be a continuing upward climb as we find out more about the real value this company represents.

JMHO
NorthLion

[Roosterdoo]

Dragon fly doji form when the open, high and close are equal and the low creates a long lower shadow. The resulting candlestick looks like a "T" with a long lower shadow and no upper shadow.

Dragon fly doji indicate that sellers dominated trading and drove prices lower during the session. By the end of the session, buyers resurfaced and pushed prices back to the opening level and the session high.

The reversal implications of a dragon fly doji depend on previous price action and future confirmation. The long lower shadow provides evidence of buying pressure, but the low indicates that plenty of sellers still loom. After a long downtrend, long black candlestick or at support, a dragon fly doji could signal a potential bullish reversal or bottom. After a long uptrend, long white candlestick or at resistance, the long lower shadow could foreshadow a potential bearish reversal or top. Bearish or bullish confirmation is required for both situations.

http://www.forexforum.net/forex-glossary/dragon-fly-doji.htm