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hardeepssethi
Jun 7, 2023 3:24 AM

Double Bottom & Head and Shoulders Bottom Pattern 

RUSHIL DECOR LTDNSE

Description

Rushil Decor Ltd.

Daily Chart showing Double Bottom & Head and Shoulders Bottom Pattern Formation

Double Bottom Pattern

The price seems to have reached a bottom after failing to break through a support level and ultimately rising higher in a sign of reversal to a new uptrend.

The Double Bottom pattern forms during a downtrend as the price reaches two distinct lows at roughly the same price level.

Head and Shoulders Bottom Pattern

The price seems to have reached the end of a period of "accumulation" at the bottom of a major downtrend; the break up through resistance signals a reversal to a new uptrend.

The Head and Shoulders Bottom is created by three successive declines in the price following a significant downtrend.

Note for everyone who came across this reference:
  • This chart analysis is only for reference purpose.
  • This is not buying or selling recommendations.
  • I am not SEBI registered.
  • Please consult your financial advisor before taking any trade.

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