ShadowEquities (< 20)

Orchids Paper (TIS) brings out the Hammer

April 01, 2010 – Comments (0) | RELATED TICKERS: TIS

TIS showed a candle pattern called a hammer today. After opening there was a selloff to bring the stock down to $16.00. Midday a rally brought the stock back up just above even before it plummeted again. This was a signal to me that the bulls have their eye on it and may happen near the close.

Sure enough it did and closed up slightly and we used this to accumulate more shares of TIS today.

The hammer pattern is not necessarily an indication that a bull run is about to occur. Just a sign the bulls are getting more active.

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