(Learning Markets News) -- TrustCo Bank Corp. NY (TRST) [Chart - News - Analysis] closed the last session with a "hanging man" candlestick pattern. This formation typically appears after an uptrend and is characterized by price candle with a long, lower shadow, no upper shadow and a very small body between the open and close prices for the day or period. Candlestick analysts consider this a bearish signal that there may be some volatility or a pause in the uptrend in the short term.
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| A hanging man is bearish because it indicates that at one point during the last trading day selling pressure drove prices lower and although buyers pushed prices back up they were unable to make significant gains before the close of market. TrustCo Bank Corp. NY competes for investment capital with State Street Corp. (STT) [Chart - News - Analysis] and M&T Bank Corp. (MTB) [Chart - News - Analysis] in the Regional - Northeast Banks industry. Once a hanging man has appeared many traders will begin tightening their risk control. Short term traders may do this by moving stops up or buying protective options. However, like fundamental analysis, no single technical indicator or candlestick pattern can perfectly predict the future for stock prices. As always it pays to stay flexible and to react to price changes as they happen. Learn more about technical analysis through the links below. Related Educational Articles and Videos
Learning Markets specializes in education for individual investors. You can learn more about gaps and technical analysis through the related links we have included below. You can also learn more about a variety of market, economic and investing topics through the home page or within each of the major tabs across the top of the site. | 
