A daily doji report will look like below:
(Taken from June 16th, 2020 report)
| Stock | Doji | |||||||
| lululemon athletica, Inc. (LULU) |
|
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| Low: 303.27 | High: 312.802 | Size: 9.53 | ||||||
| Open: 310.79 | Close: 310.61 (↑ 2.49%) | Upper Leg: 2.01 | ||||||
| Mkt Cap: $40.47 B | Prev Close: 303.05 | Lower Leg: 7.34 | ||||||
| 52wk Lo: 128.85 | % from Lo: 141.06% | Body: 0.18 | ||||||
| 52wk Hi: 324.76 | % from Hi: -4.36% | Length: Small | ||||||
| PE Ratio: 70.06 | YTD Chg %: 32.62% | Box: Filled | ||||||
| Vol: 2,105,587 | Avg Vol: 2,563,009 | Doji Shape: Long Leg | ||||||
The basic financial details are given as received from IEX Cloud. Doji details are calculated on the basic financial information. Clarification on some of the terms:
- Prev Close: The closing price from the previous trading day
- YTD Chg: The year-to-date performance of the stock. The percentage change in stock price from the beginning of the year to the closing price
- Vol: The volume of the number of shares traded in current day
- 52wk Lo/Hi: The lowest or highest price the stock reached in the previous 52 weeks to the day of the report
- % from Lo/Hi: The percentage difference from the 52 week low or high to the current closing price
- Size: The size of the doji based on high and low prices for the day
- Upper Leg: The size of the upper portion of the doji
- Lower Leg: The size of the lower portion of the doji
- Body: The size of the green or red portion of the doji
- Length: A relative sizing of the doji compared to the stock price
- Box:
- Filled if it follows the momentum of the open.
- If opened above previous close and closes higher than open price
- If the price opened lower than the previous close and closes lower than open price
- Open if it went against the open price momentum.
- If opened above previous close and closes below open price
- If opened below previous close and closes above open price
- Doji Shape: A calculated estimate of the doji shape
Our previous reports before 6/9/2020 looked like below:
| Symbol | Name | Doji | |||||||||
| BIDU | Baidu, Inc. |
| |||||||||
The information provided gives you the stock symbol, name, and doji details. The doji details show the Low (L), Open (O), Close (C), and High (H) prices for the day for a particular stock. The actual doji is shown horizontally (as opposed to normally being shown vertically on a stock chart).
The color represents two scenarios:
- Red -- The stock price opened higher, then closed at a lower price
- Green -- The stock price opened lower, then closed at a higher price
How do I use this information?
You can click on the symbol of the stock to lead you to a chart (courtesy of StockCharts.com) that will show how the stock performed. With this chart you can make your own determination if the stock will continue higher, breakdown lower, or possibly stay flat in the future.
The length of the candle legs (also called whiskers, shadow, or wick) will show you how the stock traded in the day. If the stock has a long leg in one direction and short leg in the other, this situation means that a price reversal took place and could indicate momentum.
If you look at the example above. You can see two examples of dojis. Although the factors of the color and if the candle has an open or filled box is important for analysis, we will focus on the legs of the dojis. In the case of the blue and orange arrows, these dojis had a long leg in one particular direction. What eventually took place was a momentum shift in the direction opposite of the long leg. These examples happen frequently and show the importance of scanning for doji candles. The difficulty of this analysis, however, is that anything truly can happen in the stock market. So despite having a strong indication of a momentum shift, it does not always work out.
For cases where the indicator does not work out, see above with TTWO. These gray arrows show cases of dojis, but with no following momentum shift. These type of dojis have the long leg in one direction, but the stock continued further into the direction of the long leg. This hopefully shows you that the doji indicators are not perfect, but should be used as a tool for you to use.
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