Perfect Double Bottom for ZYNE
Double bottom in an uptrend:
- The double bottom looks like the letter "W". The twice-touched low is considered a support level.
- The advance of the first bottom should be a drop of 10% to 20%, then the second bottom should form within 3% to 4% of the previous low, and volume on the ensuing advance should increase.
- The double bottom pattern always follows a major or minor downtrend in a particular security, and signals the reversal and the beginning of a potential uptrend.
Out of the most interesting cannabis bio pharma companies (GWPH, CARA and ZYNE), this one seems to be ready for another break out. I'm anticipating a quick retrace, then a break through resistance to test the next level.
Just my 2 cents. It's free. Trade with caution.
- The double bottom looks like the letter "W". The twice-touched low is considered a support level.
- The advance of the first bottom should be a drop of 10% to 20%, then the second bottom should form within 3% to 4% of the previous low, and volume on the ensuing advance should increase.
- The double bottom pattern always follows a major or minor downtrend in a particular security, and signals the reversal and the beginning of a potential uptrend.
Out of the most interesting cannabis bio pharma companies (GWPH, CARA and ZYNE), this one seems to be ready for another break out. I'm anticipating a quick retrace, then a break through resistance to test the next level.
Just my 2 cents. It's free. Trade with caution.
🅱🄰🆁🅺🆆🄾🆁🆃🅷
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
🅱🄰🆁🅺🆆🄾🆁🆃🅷
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.