Replies to post #74739 on Medical Marijuana Inc (MJNA)

[reyprimero]

After an advance or long white candlestick, a doji signals that buying pressure may be diminishing and the uptrend could be nearing an end. Whereas a security can decline simply from a lack of buyers, continued buying pressure is required to sustain an uptrend. Therefore, a doji may be more significant after an uptrend or long white candlestick. Even after the doji forms, further downside is required for bearish confirmation. This may come as a gap down, long black candlestick, or decline below the long white candlestick's open. After a long white candlestick and doji, traders should be on the alert for a potential evening doji star

[ospreyeye]

MJNA did not form a DOJI today......it formed a black spinning top.......here's some info. On DOJI's.......$$$

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=84347989

http://www.chart-formations.com/candlestick-patterns/doji.aspx

The Doji is a single candlestick pattern that indicates weakness and a potential trend reversal. This can be either a bullish or a bearish trend reversal, depending on where the doji appears on the price chart. A doji is usually a relatively short candlestick with no real body, or very little real body. It indicates that the opening and closing prices for the period were at the exact same level or very close together. In terms of market psychology, a doji indicates that there is indecision and uncertainty in the market with neither buyers nor sellers able, or willing, to move the price to significant levels, which would indicate a weakness in the current trend and a possible reversal. To have any significance, a doji must appear in an existing trend at a trend line or a support and resistance line, or when the market is oversold or overbought. However, the doji is less significant if there are already a number of doji in the current trend.
The doji has different names depending on the location of its real body, or rather, the lengths of the upper and lower shadows.
A doji with long upper and lower shadows is called a Rickshaw Man or a Long-Legged Doji. The long shadows indicate that the market rallied and sold off significantly during the session but that neither position was held as the market closed where it had opened. This is an indication of great uncertainty and lack of direction.
A doji with a long lower shadow and no upper shadow is called a Dragonfly Doji. It has greater significance in a downtrend as it has bullish implications and indicates that the sellers were able to drive the price lower during the session, but were unable to hold the price down. Therefore, it is usually an early indication that a downtrend is running out of steam and may soon come to an end.
A doji with a long upper shadow and no lower shadow is called a Gravestone Doji as it has the shape of a gravestone. The gravestone doji is the opposite of the dragonfly doji and has greater significance in an uptrend as it indicates that the buyers were able to push the price up during the session, but were unable to hold the market at the higher levels, conceding ground to the sellers. It usually indicates that the uptrend is running out of steam.
One or more doji can also form part of other candlestick patterns, such as in a Morning Star, which would then be called a Morning Doji Star or an Evening Star, which would then be called a Evening Doji Star, or a Harami pattern, in which case it is called a Harami Cross.