Double BottomKnown to be volatile and is a ways over long entry level ..
Perhaps patience and waiting for a good entry level will pay off...Hard when you really like a certain stock. I have done so before and then never caught the stock )o: But another time comes around as nothing goes straight up forever. Sometimes it seems that way, but I remember when I thought this one would never come down...but it did.
The double bottom is a trend reversal formation. It may not be near the yearly, monthly or weekly bottom for that security. but it would most likely occur after a significant pull back
These formations occur after extended downtrends when two valleys or “bottoms” have been formed.
Price forms two valleys because it possibly found strong S and does not go below a certain level.
As a rule, the second bottom isn't able to significantly break the first bottom. This is a sign that the selling pressure is about finished, and that a reversal is about to occur.
Caution though, as there can be multiple bottoms..ie... FDX traded in a multiple bottom pattern for a long time. EHTH fooled me recently by falling down again. We just never know.
Short interest is usually on the high side for sedg, possibly due to the volatility.
NV and OBV are high. I do not see any rising wedges in the yearly chart
Happy Trading (o:
