Chartists looking for specific candlestick reversal patterns should check out the predefined scans page, which is updated intraday and end-of-day. Thursday's end-of-day results show a surge in the number of hammers (from 42 to 100 for a +58 gain). This indicates that many stocks dipped after the open and then rallied to close near their open. Of note, Kona Grill (KONA) and Web.com Group (WWWW) made the scan.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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