I saw something interesting in the candlestick daily chart of the counter Best World today. The chart is as shown below.
Looking at the chart pattern of the last few trading days, it can be seen that the candles from 12 July through yesterday, 18 July, were all black candles. The closing price each day was lower than that of the previous. Then, today, 19 July, there is a candle with a short body. It is much shorter than that the body of yesterday's candle. Its position is such that its body is completely nestled within the body of yesterday's candle.
Let's now take a look at the chart pattern that occurred sometime back in early June. The candles from 2 June through 7 June are all white candles. The closing price each day then was higher than that of the previous day. Then, on 8 June, there was a candle with a short body that was totally nestled within the body of the previous day's candle.
So, the chart pattern that occurred during the last few days is similar to that that occurred from 2 - 8 June, but in the opposite direction.
On 9 June, the day immediately after the appearance of the short candle that was nestled within a longer one, there was a huge drop in the price as illustrated by the long black candle.
So now, with the pattern of the last few days similar but in the opposite direction to that of 2 - 8 June, and with a similar short candle today, will there be a sharp jump in the price of Best World tomorrow?
Let's find out tomorrow.