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Re: Jaymes post# 117

Tuesday, 10/05/2021 11:03:35 AM

Tuesday, October 05, 2021 11:03:35 AM

Post# of 143
So far it's sorta holding around a dollar, though looking pretty dire. If this is anywhere near the real bottom, the previous low was .69 so a reversal at or above that price would form a double bottom on the daily chart. (That would be a good sign that this could be turning more bullish.)

https://www.investopedia.com/terms/d/doublebottom.asp
FDVRF almost meets the criteria for a double bottom so far. Since it didn't hold at $1, I'd expect price to come down to the .70s before it could go green again.

Otherwise for many stocks the dead cat bounces tend to happen at an order of magnitude price difference. There was one around $10, the last one was in the dollar ranges, and the next one might be in the dime ranges.