deprez
60 posts
msg #28162
- Ignore deprez |
8/30/2003 3:59:36 PM
Double bottoms mean a support has been found.
If your price is higher than the intermediate peak and
the second bottom is a little higher than the first,
you may have a nice reversal.
If your price can't beat the intermediate peak, then
a consolidation pattern/rectangle may be forming
between your peak and the double bottoms.
You will have to wait for a confirmed breakout from that peak.
Make sure you also take a look at your primary support/resistance trendlines.
They may have more information for you as will other indicators
e.g. MACD,RSI,ROC,MA Crossovers etc.
Hope this helps.
Geodepe
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