While the stock has lost 11.5% over the past week, it could witness a trend reversal as a hammer chart pattern was formed ...

Why Candlestick Patterns Still Matter Candlestick formations like the Hammer, Doji, and Engulfing have helped traders read market sentiment for decades. They tell a story about price movement - ...

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She has 15+ years of experience as a financial writer and technical analyst. The head and shoulders chart pattern is a popular and easy-to-spot pattern in technical analysis. It shows a baseline ...

The larger time frame weekly chart confirms signs of strength. A bullish doji hammer candlestick pattern occurred last week with a high of $68.03. It was followed by a weekly breakout this week.

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Note that the weekly chart (not shown) shows a potential bullish doji hammer candlestick pattern that formed last week. A bullish breakout signal triggered today and of course it has failed so far.

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Technically, the market action of Tuesday (Feb 25) indicates a formation of inverted hammer type candle pattern (not a classical one). "The formation of inverted hammer after a reasonable decline ...