【Thursday Special】Could You Find Double Bottom Pattern?
Welcome to Thursday Special!
Whether you are a beginner or an experienced investor, everyone has their own opinions on the stock market trends. How do you make these judgments?
Let's start a series of learning patterns and apply them to individual stock trends.
Can you spot the “W” in this pic?
Could you guess which stock this is based on the following trend?
What Is a Double Bottom Pattern?
It describes the drop of a security or index, a rebound, another drop to the same or similar level as the original drop, and finally another rebound (that may become a new uptrend). The double bottom looks like the letter "W." The essential characteristics of the double bottom pattern are as follows:
The double bottom pattern looks like the letter "W." The twice-touched low is considered a support level.
The double bottom pattern always follows a major or minor downtrend in a particular security, and signals the reversal and the beginning of a potential uptrend.
Double bottom patterns occur relatively often and in many different timeframes.
A daily double bottom may indicate a longer-term reversal or shift in trend, while an hourly double bottom may signal only a brief pause in a down trend.
Generally speaking, the longer the duration between the two lows in the pattern, the greater the probability that the chart pattern will be accurate.
💭So, today's homework is to find a stock with a double-bottom pattern!
Please take a screenshot and highlight the double bottom pattern.
For example: $Netflix(NFLX)$
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🌟🌟🌟万岁！我发现了双底模式$谷歌A(GOOGL)$
谷歌在2022年经历了可怕的一年，股价下跌了39%，但此后有所回升，今年迄今上涨了54%。
谷歌是世界排名第一的搜索引擎，拥有90%的市场份额。它每天有90亿次谷歌搜索，而必应有4亿次。谷歌非常热衷于生成式人工智能，这将有助于它在未来实现指数级增长。
我非常兴奋地在谷歌中发现双底模式，对我来说W.W意味着财富！
@MillionaireTiger
Come and hunt the similar pattern with us guys. @GoodLife99 @Aqa @icycrystal @Universe宇宙 @b1uesky @rL @koolgal
@icycrystal @Shyon @LMSunshine @melson @Aqa @rL @SirBahamut @HelenJanet
看看👀我找到的，这是W吗？
While Amazon's fundamentals are strong, the company's stock chart also reveals intriguing patterns. One such pattern worth noting is the double bottom pattern, which resembles the letter 'W.' This pattern typically indicates a potential reversal of a downtrend and suggests that the stock may be poised for an upward movement.
@MillionaireTiger
$Netflix(NFLX)$
Obvious double bottom. Worst is definitely over. Don't miss the boat when it doubles in value over the next few years.
“Double Bottom” pattern formed between Jun 2023~Aug 2023
Great ariticle, would you like to share it?