Daeubner: EVN - Was this the final shake-out?

EVN shares formed a so-called candle-stick "doji" in yesterdays trading action. That means the stock fell hard after trading began, but it was capable of regaining most of its losses before the closing bell. It is interesting to note that the stock fell to lower lows (a possible indication for fishing stop-loss orders), and quickly regained the lost territory. Chartists believe that doji candlesticks are excellent indicators for possible bottom formations - which need to be confirmed by momentum to the upside in the next few days. The bulls and the bears are now in the process of fighting over lost territory. Statistics say, that the bulls have the better chance of gaining the upper hand soon.