This candle on daily has a long top wick/shadow so far today. Weekly candle is a red Marubozu with a shaven open and a shaven close.
A marubozu candlestick is a either bullish or bearish candlestick. They are larger candles and don't have any upper wicks or lower shadows. They are typically green on charts when bullish and red on charts when they are bearish.
Sometimes the gap down candle can be an indicator of whether price will continue falling. A gap down (a falling window) is usually bearish in itself without bad candles.
Head and shoulders top with a sloping neckline. The last leg up did not beat the high.
No recommendation.
It seems the whole consumer staples sector is suffering with this one. WMT's earnings miss did not help. It is often best not to attempt to catch a falling knife as they can cut you. )o:
Be safe//Laura
A marubozu candlestick is a either bullish or bearish candlestick. They are larger candles and don't have any upper wicks or lower shadows. They are typically green on charts when bullish and red on charts when they are bearish.
Sometimes the gap down candle can be an indicator of whether price will continue falling. A gap down (a falling window) is usually bearish in itself without bad candles.
Head and shoulders top with a sloping neckline. The last leg up did not beat the high.
No recommendation.
It seems the whole consumer staples sector is suffering with this one. WMT's earnings miss did not help. It is often best not to attempt to catch a falling knife as they can cut you. )o:
Be safe//Laura