Pattern recognition is essential when it comes to candlesticks. Piercing lines are the most important of these. If you see one, make a mental note of it. A piercing line, in general, acts as a powerful indicator of future price movement. Remember that candlesticks only represent one day's worth of data in a market that averages about 252 days per year (based on S&P 500 data), so it's important to pay attention when something interesting occurs on such a small scale.
This candlestick appears when there is indecision on either side of the price action. It appears to be an upside-down or closed The gravestone symbolises at least short-term indecision between buyers and sellers, though there may be some long-term significance as well. Gravestone patterns are usually considered neutral patterns, but they can also indicate an impending reversal in an uptrend or the start of bearish action. Because of these contradictory signals, traders should look into other technical indicators before deciding whether or not to act based on what they see in their candle charts.