I wrote about $PMCS back on 1/14/10, the day after it made a nice hammer formation at its 200 DMA. It made the hammer at the bottom of a trend with very little volume or conviction for me, and I reviewed the weekly chart for additional clues. At that time I suspected it might test its lower boundary of about $7.94, and it did yesterday. Too bad I didn't short this one.
Rules of candlestick formations: Volume is always key indicator of how meaningful the candlestick formation is.
