Zeolite Australia (ZEL.AX)
Trading: NO POSITION @ $5.51
Signal Strength: WEAK
Indicator MUST BE USED in additional to another technical indicator to confirmation for trading position. Indicator can be applied to the short term timeframe but is only able to give and indication of the strength of the buyers versus sellers at the market close. This Japanese candlestick indicator can provide guidance on the short term battle between sellers and buyers from the companies recent trading.
Zeolite Australia (ASX:ZEL) has formed a Dragonfly Doji candlestick. This doji has no upper shadow but a long lower shadow.
This candlestick is a type of Doji characterized with no upper shadow but a long lower shadow. It is also known as the Dragonfly Doji.
Calculation: Dragonfly Doji Candlestick:
1) The length of the body is null or close to null;
2) There is no upper shadow;
3) The lower shadow is long;
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