Wednesday, June 17, 2015 3:03:40 PM
Here's Something Interesting
Double-Bottom / Declining Wedge
StockCharts: Use a 1 yr, 6 mo Log chart
FIRST --- Upper Trend-Line
Start a line from the March 20, 2014 high
Then draw it to the June 16, 2015 low
SECOND --- Lower Trend-Line
Start a line from the Feb 11, 2014 low
Then Draw it to the May 29, 2015 low
THIRD --- Bottom Reversal
Now, there you have two major Trend-Lines
both offering two major support levels for a
creative "Double Bottom".
These Trend-lines are formed from a long
term Declining Narrowing Wedge, which
had a upward price breakout on June 2nd,
which the price just re-tested on a pullback
to that same "Upper Trend-Line" breakout
point, on the June 16th low.
An Easy Long Term Target Of $2.00 - $3.00
Double-Bottom / Declining Wedge
StockCharts: Use a 1 yr, 6 mo Log chart
FIRST --- Upper Trend-Line
Start a line from the March 20, 2014 high
Then draw it to the June 16, 2015 low
SECOND --- Lower Trend-Line
Start a line from the Feb 11, 2014 low
Then Draw it to the May 29, 2015 low
THIRD --- Bottom Reversal
Now, there you have two major Trend-Lines
both offering two major support levels for a
creative "Double Bottom".
These Trend-lines are formed from a long
term Declining Narrowing Wedge, which
had a upward price breakout on June 2nd,
which the price just re-tested on a pullback
to that same "Upper Trend-Line" breakout
point, on the June 16th low.
An Easy Long Term Target Of $2.00 - $3.00
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