DOUBLE BOTTOM (GALA)
DOUBLE BOTTOM
Ah, the intriguing world of chart patterns! A double bottom is a technical analysis chart pattern that indicates a potential reversal in a downtrend. It resembles the letter "W" and occurs when the price of a security hits a low point, rebounds, declines again to the same or a similar low point, and then rebounds once more.
Here's a quick visual breakdown:
First Bottom: Price hits a low point after a downtrend.
Bounce: Price rebounds from the first low.
Second Bottom: Price declines again to the same level as the first bottom.
Second Rebound: Price rises again after the second low, often signaling the reversal of the previous downtrend.
Ah, the intriguing world of chart patterns! A double bottom is a technical analysis chart pattern that indicates a potential reversal in a downtrend. It resembles the letter "W" and occurs when the price of a security hits a low point, rebounds, declines again to the same or a similar low point, and then rebounds once more.
Here's a quick visual breakdown:
First Bottom: Price hits a low point after a downtrend.
Bounce: Price rebounds from the first low.
Second Bottom: Price declines again to the same level as the first bottom.
Second Rebound: Price rises again after the second low, often signaling the reversal of the previous downtrend.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.