A double bottom pattern is a technical analysis charting pattern that describes a change in trend & a momentum reversal from prior leading price action.
It describes the drop of a stock or index, a rebound, another drop to the same or similar level as the original drop, & finally another rebound.
The double bottom looks like the letter "W". The twice-touched low is considered a support level.
It describes the drop of a stock or index, a rebound, another drop to the same or similar level as the original drop, & finally another rebound.
The double bottom looks like the letter "W". The twice-touched low is considered a support level.