Replies to post #8506 on Sycamore Entertainment Group Inc (SEGI)

[~Angel~]

Americanbulls.com confirmed 'BUY'!

http://www.americanbulls.com/StockPage.asp?CompanyTicker=SEGI&MarketTicker=OTC&TYP=S




SEGI Performing White Opening Marubozu,

Definition:



WHITE OPENING MARUBOZU

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


Definition:

The White Opening Marubozu is a single candlestick pattern characterized by a long white body. It has an upper shadow but no lower shadow. This is a strong bullish candlestick pattern.

Recognition Criteria:

1. A White Opening Marubozu does not have lower shadow but it has an upper shadow.
2. The day opens and prices continue to go up all day long forming a long white body with no lower shadow.
3. The prices close over the opening price but not at the high of the day thus creating an upper shadow.

Explanation:
The White Opening Marubozu is a single candlestick pattern characterized with a long white body displaying a shadow on the closing side and but no shadow on the opening side. This shows that the day opened and then the prices continued to go up all day long without coming below the opening level thus forming a long white body, however prices did not close at the high of the day and thus they created an upper shadow. It is a typical bull day and strength of the bulls is enough to cause some concern among the bears. A White Opening Marubozu, on the other end, does not show as much bullish strength as in the case of White Marubozu.

Important Factors:

Like all other Marubozu, what a White Opening Marubozu says about the future course of the prices depends a lot on the general picture. It may be the first part of a bullish continuation pattern but it may also be interpreted as a bearish reversal pattern depending on the preceding day's candlesticks.

In the case of downtrend a White Opening Marubozu is called as a Bullish Belt Hold Pattern.

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