A type of candlestick charting formation that appears when a security's price does not trade outside the range of the opening and closing prices. The marubozo's defining characteristic is the absence of upper or lower shadows. On an up day the opening price is equal to the day's low, and the closing price is equal to the day's high. This type of candle suggests strongly that there is a greater demand for the stock than there is willingness for people to sell it. The opposite is true when the marubozo appears on a down day (when the opening price is equal to the high of the day).