A Double Bottom is considered a bullish signal, indicating a possible reversal of the current downtrend to a new uptrend. Sometimes called an "W" formation because of the pattern it creates on the chart, the Double Bottom is one of the most frequently seen and common of the patterns. The Double Bottom is a reversal pattern of an downtrend trend in a financial...
My analysis is based on the Monthly chart. The monthly chart is considered ideal for long term investors and gives a directional perspective of the stock price. The stock is forming a double bottom pattern. Typically, a double bottom is formed after a single rounding bottom pattern is formed and is often an early sign of a potential reversal. According to...
What is Double Bottom Pattern? The double bottom pattern looks like the letter "W". It indicates an trend and momentum reversal in a particular asset. It is best for analyzing the intermediate to longer-term view of a market. Double Bottom Pattern one of the most reliable reversal pattern after Head and Shoulders Pattern. How does Double Bottom Pattern...
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AXISBANK near its resistance in double bottom pattern at hourly timeframe. Be ready to go long if breakout comes.