A bearish candlestick with a very long upper shadow, little or no lower shadow, and a very small real body near the daily low. It forms when a security opens, advances significantly, but then closes near the opening price. To qualify as a shooting star, the formation must occur during a price advance and the difference between the highest price of the day and the opening price must be more than double the body of the shooting star.
Shooting Star Candlesticks
Market Terms
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