Shooting Star

What Does Shooting Star Mean?
A type of candlestick formation that results when a security's price, at some point during the day, advances well above the opening price but closes lower than the opening price.

Investopedia explains Shooting Star
In order for a candlestick to be considered a shooting star, the formation must be on an upward or bullish trend. Furthermore, the distance between the highest price for the day and the opening price must be more than twice as large as the shooting star's body. Finally, the distance between the lowest price for the day and the closing price must be very small or nonexistent.

Related Terms

Bar Chart
Bearish Harami
Bullish Harami
Candlestick
Dark Cloud Cover
Harami Cross
Red Candlestick
Technical Analysis
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