Shooting Star Candlestick Pattern: Does It Call the Top? (5,507 Cases)
A shooting star is the bearish mirror of the hammer. The stock gaps up or pushes higher during the day, can’t hold it, and closes near where it opened. What’s left is a small body at the bottom of the candle with a long wick sticking up, the “tail” of the star. The usual reading: buyers tried to take it higher and got rejected, so the rally is running out of steam. Our scanner has recorded 5,507 shooting stars across 559 US stocks and ETFs since October 2023. Here’s what followed. ...