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Double Bottom

Dollar bulls on the rise? (DXY)The American Dollar Index (DXY) appears to be forming a double bottom pattern similar to the one it formed in March 2022. This pattern is considered a bullish chart pattern that indicates a potential trend reversal from a downtrend to an uptrend. A breakout from this pattern could trigger a significant rally in the dollar, possibly up to the 110 price level. However, this bullish outlook for the dollar could have implications for other markets, particularly the crypto and stock markets. Historically, the dollar and these markets have had an inverse relationship, where a strong dollar usually leads to a weaker performance in the crypto and stock markets. Therefore, if the dollar rally materializes, it could lead to end-of-year lows for these markets. Traders and investors should monitor the DXY closely for any breakout signals from the double bottom pattern and adjust their trading strategies accordingly.
TVC:DXYLong
by Blast910
AMD - Rising Trend Channel [MID TERM]- AMD is in a rising trend channel in the medium long term. - AMD has met the objective at 96.47 after a break of the double bottom formation. - The price has now fallen, but the formation indicates further rise. - AMD has marginally broken up through resistance at 85.00. - Overall assessed as technically positive for the medium long term. *EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price *Chart Pattern: DT - Double Top | BEARISH | RED DB - Double Bottom | BULLISH | GREEN HNS - Head & Shoulder | BEARISH | RED REC - Rectangle | BLUE iHNS - inverse head & Shoulder | BULLISH | GREEN Verify it first and believe later. WavePoint ❤️
NASDAQ:AMDLong
by wavepoint99
IRCTC FORMED DOUBLE BOOTOM STRUCTUREThe price corrected almost 55% from the all time high level of 1280. Now price near the weekly support of 550 and formed double bottom structure on weekly timeframe. price indicating perfect low risk & high rewards setup. The level of 550 is strong support level for the price & my initial targets will be 655/700/788 for the upside momentum of stocks. If price closes below 550 level on weekly chart than more fall can be seen in the price.
NSE:IRCTCLong
by Jha_Nidhi
TATACONSUM DOUBLE BOTTOM FORMATIONThe price corrected 16% from the level of 820 and price continuously formed lower lows & lower highs. And now price formed DOUBLE BOTTOM formation on daily chart which considered as bullish formation for the price. Downward trendline also resisting the price from the upside. If price breaks the level of 810 and closes above it than target will be 722/740/760 towards the upside. The level of 685 is support level for the price. Breakdown below 685 leads more fall in the price
NSE:TATACONSUMLong
by Jha_Nidhi
USDJPY POTENTIAL LONG FORMATION IN PROGRESSWe have been looking at this pair and waiting for various patterns to form which will assist us to form a basis for the potential direction of the pair. Our trades are based on the higher time frame trend, being the weekly and monthly charts in order to avoid excessive noise of the lower time frames. We can see that the pair remains bullish despite the pair showing bearish price action on the lower time frames, hence we are only looking for buying opportunities until further notice. With this being said we have managed to spot a buying opportunity due to the following reasons listed below: 1: Trendline breakout 2: Double bottom pattern formation. We are still waiting for two more confluence factors to form before we consider looking for entries. These have been listed below: 1: Key-level breakout which signals a change in market structure from bearish and bullish 2: Entry will be on a retest of key level area.
Long
by NDOBObanks
1
TSLA: A Bottom Signal (Finally)?• TSLA has finally made a bottom signal above the support line at 154.76, indicating that it should jump to higher levels; • The problem is the key point around 164, a previous support level that is acting as a resistance now. This is the same key point we mentioned in our previous TSLA analysis – the link is below this post, as usual; • Also, despite the bearish signal, there is no bullish reversal signal (two different things) - as long as TSLA remains below 21 EMA, sentiment will remain bearish (medium-term); • If TSLA loses support at 154.76, that would frustrate this bottom signal, and TSLA would just fill the gap at 146 next. • On the 1-hour chart, we see that TSLA is reversing the trend, as it is making higher highs and higher lows. The 21 ema is still flat, and price is dancing around it, but TSLA has given us some promising signals in this time-frame; • The line at 157 was the trigger point of a Double Bottom chart pattern (as evidenced by the red lines), and that line appears to be acting as support now; • To see TSLA jump to higher levels on the daily chart, it must confirm a continuation on the 1-hour chart, which means it must react as soon as possible, preferably above the 157 line - otherwise, this bullish thesis may be frustrated; • For now, the two key points are the support at 157 and the resistance at 164. A breakout in either direction could bring something new for us. I will keep you updated on this. I will keep you updated on this. Remember to follow me for my daily analysis.
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
13
Double Bottom SpeculativePossible double bottom formed on WHR- confirmed after passing HKEX:160 via volume/3 day rule etc. There is a very high probability that the pattern tests 162 area but also a good chance that it retreats from there. SP currently sitting near 61.8% retrace from 2021 highs to 2020 lows implying a demand zone. Currently has div yield of 5.17% at a payout ratio of only 41.15 and a decent 5 year growth rate ( for the mkt cap of company) of 9.73%. WHR's Fwd GAAP PE is less than 18.42% of the sector's. EV/EBITDA TTM is 3% below sector's, but 31.8% above WHR's 5 year avg. WHR's Shiller PE ratio range over last 10 years is 8.74 to a max of 30, so its currently below mid-range at 15.4. However WHR is susceptible to macro economic headwinds. There is a good chance that even a mild recession combined with WHRs recent deterioriating fundamentals causes the current intermediate pattern to fail and brings price down to a new demand zone near $100. WHR seems like it may be a good deal and has some short term technical characteristics in its favor but the odds seem in favor of the price falling further- Be cautious and consider averaging in over time if you do start a posit.
NYSE:WHR
by Jrussell86
1