KMB appeared to be in a rising wedge, and has fallen close to the yearly low. Something did not go well at earnings. I did not look though.
The red candle with the small body which is from 4 trading days ago, at top of the gap down, I see a small red candle with a long top wick and a shorter bottom wick. If this candle was on the weekly or monthly time frame it would be a stronger candle. I like to look at wicks on a stronger time frame like the monthly which is stronger than the weekly, and on down the time frames depending on which time frame you trade, to get an idea of where price may go. If the security opens a lot higher (or lower depending), then this method does not work for me, but if I see a candle with a long top wick, it makes me think that price is going lower as the bottom wick will catch up with the top wick. Call me crazy but it works for me..lol
An inverted hammer (bullish) has a long top wick and a very small, or preferably no bottom wick, but an inverted hammer is found at the bottom.
No recommendation.
Candles can be useful. I do not find them asnear as powerful as a pattern or trendlines etc, but I think they are a good addition to get a feel for what is going on (o:
KMB was over the top band with the DMA set on 80 verses 20 which can also be a signal to be on watch for a possible fall.
KMB is closing in on oversold territory via RSI. I forgot to mark the prior gap down at 142ish, but I am assuming there will be resistance there.
The red candle with the small body which is from 4 trading days ago, at top of the gap down, I see a small red candle with a long top wick and a shorter bottom wick. If this candle was on the weekly or monthly time frame it would be a stronger candle. I like to look at wicks on a stronger time frame like the monthly which is stronger than the weekly, and on down the time frames depending on which time frame you trade, to get an idea of where price may go. If the security opens a lot higher (or lower depending), then this method does not work for me, but if I see a candle with a long top wick, it makes me think that price is going lower as the bottom wick will catch up with the top wick. Call me crazy but it works for me..lol
An inverted hammer (bullish) has a long top wick and a very small, or preferably no bottom wick, but an inverted hammer is found at the bottom.
No recommendation.
Candles can be useful. I do not find them asnear as powerful as a pattern or trendlines etc, but I think they are a good addition to get a feel for what is going on (o:
KMB was over the top band with the DMA set on 80 verses 20 which can also be a signal to be on watch for a possible fall.
KMB is closing in on oversold territory via RSI. I forgot to mark the prior gap down at 142ish, but I am assuming there will be resistance there.