Yesterday, we are talking about the Lsteel has forming a reliable signal ie hammer and gap close. Just a day away, a HIGHER LOW CANDLESTICK has been formed. The price is closed at the highest of 0.615 sen.

 Hammer Confirmation

The true confirmation of the hammer candle can only be made when the very next proceeding candle closes with a higher low than the hammer candle. This confirms the capitulation (投降) from sellers, as buyers have determined the price is too attractive to pass up and quickly buy into the position. When the proceeding candles continue to consecutively form higher lows, it will indicate that the buyers are now supporting the pullbacks buy and bidding up shares. As the price rises higher, it can also cause earlier sellers to reconsider and buy back into the stock.

GAP Close

These types of gaps often occur when a security is trading in a range and will often be small in terms of the gap's price movement. They can be a result of commonly occurring events, such as low-volume trading days after breaking crucial resistance level.

These gaps often fill quickly, moving back to the pre-gap price range and the uptrend continuation pattern is expected.

The Target Price given by I-Saham is 0.79 Sen.

Bali 23/6/17

PART 1

Lsteel price has been running side away since broke out from 0.53 sen level, on 20-6-17, a significant technical analysis  has been formed which signal the bullish reversal candlestick pattern. A hammer is a price pattern in candlestick charting that occurs when a security trades significantly lower than its opening, but rallies later in the day to close either above or near its opening price. This pattern forms a hammer-shaped candlestick, in which the body is at least half the size of the tail.

A hammer occurs after Lsteel price has been declining, possibly suggesting the market is attempting to determine a bottom and simply indicates that the bulls are strengthening. The true confirmation of the hammer candle can only be made when the very next proceeding candle closes with a higher low than the hammer candle. 

A Gap occurs when Lsteel price breakout at 3/6/17. The gap is being filled on 20-6-17. A gap closing mean the continuation of previous  uptrend pattern shall persist, this shall further stiffer the further upside of Lsteel price in near future.