DOUBLE TOP AND BOTTOM

A term used in technical analysis to describe the rise of a stock, a drop, another rise to the same level as the original rise, and finally another drop. A charting pattern used in technical analysis that describes the drop of a price or a rebound, another drop to the same level as the original drop, and finally another rebound. The double bottom looks like the letter "W". The twice touched low is considered a support level. Reversal patterns suggest that one trend is ending and the market is ready to begin another trend in the opposite direction or, perhaps more likely, to move sideways for a while.


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