Pull Back Fishing Double BottomPG sems to be recovering from a double top.
Double tops, triple tops, Head and shoulders patterns are not a good thing. But securities do eventually recover and is not a always a death sentence. This one does have some work to do.
This one, to me is another defensive stock. It is capable of moving though. Good dividend and what I consider a "I can sleep at night" stock (o:
Not a recommendation.
PG needs to bust that top trendline of the falling wedge pattern to truly move. There is resistance there but falling wedges are bullish.
Double bottom to match the double top. Long entry for double bottom is the same as a break from the falling wedge. Go figure (o:
You can measure a double top, triple top, head and shoulders from the head to the shoulders, draw a line at the neck (usually obvious) then project it down to get a guesstimate of where the security may land. In this case, it was almost spot on. Then again, you just never know (o:
I have started getting the feeling that it may be time to move my cash to things I know well.