【Thursday Special】Could You Find Double Bottom Pattern?

MillionaireTiger
2023-09-14

Welcome to Thursday Special!

Whether you are a beginner or an experienced investor, everyone has their own opinions on the stock market trends. How do you make these judgments?

Let's start a series of learning patterns and apply them to individual stock trends.

Can you spot the “W” in this pic?

Could you guess which stock this is based on the following trend?

What Is a Double Bottom Pattern?

It describes the drop of a security or index, a rebound, another drop to the same or similar level as the original drop, and finally another rebound (that may become a new uptrend). The double bottom looks like the letter "W." The essential characteristics of the double bottom pattern are as follows:

  • The double bottom pattern looks like the letter "W." The twice-touched low is considered a support level.

  • 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.

  • Double bottom patterns occur relatively often and in many different timeframes.

  • A daily double bottom may indicate a longer-term reversal or shift in trend, while an hourly double bottom may signal only a brief pause in a down trend.

  • Generally speaking, the longer the duration between the two lows in the pattern, the greater the probability that the chart pattern will be accurate.

💭So, today's homework is to find a stock with a double-bottom pattern!

Please take a screenshot and highlight the double bottom pattern.

For example: $Netflix(NFLX)$

🎁Prizes

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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment（54）

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  • koolgal
    ·2023-09-17
    TOP

    🌟🌟🌟Hurray!  I found the Double Bottom Pattern in $Alphabet(GOOGL)$ 

    Google  had a horrendous year in 2022 when its share price dropped by 39% but it has since recovered and jumped 54% year todate.

    Google is the number 1 search engine in the world with 90% market share.  It has 9 billion Google searches every day versus 400 million in Bing.  Google is very much into Generative AI which will help it power its way to exponential growth in the future. 

    I am very excited to find the Double Bottom Pattern in Google which looks like W.  W to me signifies Wealth! 

    @MillionaireTiger  

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    • koolgalReplying tozuma: 
      May you have a wonderful week ahead 🍀🍀🍀🌈🌈🌈
      2023-09-18
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    • koolgalReplying tozuma: 
      My pleasure 😍😍😍
      2023-09-18
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    • zuma: 
      thx
      2023-09-18
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  • Shyon
    ·2023-09-14
    Done my homework and found the pattern in META chart as drawn below. Hehe bingo!
    Come and hunt the similar pattern with us guys. @GoodLife99 @Aqa @icycrystal @Universe宇宙 @b1uesky @rL @koolgal
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  • Universe宇宙
    ·2023-09-14
    All Tigers who leave valid comments in the comments section will receive Tiger Coins but don’t copy others’ homework hahaha.

    @icycrystal @Shyon @LMSunshine @melson @Aqa @rL @SirBahamut @HelenJanet

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  • Aqa
    ·2023-09-15
    Double Bottom Pattern describes the drop of a stock (or index), a rebound, another dtop to the dame or similar level as the original drop, and finally another rebound that may become a new uptrend. The double bottom looks like the letter “W”. The double bittom pattern always follow a major or minor downtrend in a stock, and signals the reversal and the beginning of a potential uptrend. A daily double bottom indicates a longer-term reversal in trend. The longer the duration between the two lows in the pattern, the greater the probability that the chart paytern will be accurate. This is exactly hapoened to <Intel > This stock has double bottom pattern in Nov 2022 to March 2023.
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  • icycrystal
    ·2023-09-15
    TOP
    a double bottom is a bullish reversal pattern that forms after a significant downtrend. the pattern is created when the price action tests a key support level twice and fails to break below it. this creates a "W" shaped pattern on the chart. here's a picture of "W" chart [smile] [smile] [smile]
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  • Universe宇宙
    ·2023-09-14
    @TigerGPT Find 5 stocks with a double-bottom pattern in 2023.
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  • AliceSam
    ·2023-09-14
    双底形态描述了一种证券或指数的下跌，一次反弹，另一次下跌到与最初下跌相同或相似的水平，最后是另一次反弹（这可能成为新的上升趋势）。双底看起来像字母“W”


    看看👀我找到的，这是W吗？
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  • TigerOptions
    ·2023-09-14
    $Amazon.com(AMZN)$ has long been a beacon of innovation in the world of e-commerce and technology. With its ubiquitous presence, the company has reshaped retail, cloud computing, and entertainment industries, among others. Amazon has consistently delivered strong financial results, with Amazon's Prime subscription service and cloud computing arm, Amazon Web Services (AWS), remain major contributors to its bottom line. AWS, Amazon's cloud computing division, continues to be a growth engine. This segment contributes substantially to Amazon's profits and offers a recurring revenue stream. As more businesses migrate to the cloud, AWS is well-positioned to capitalize.

    While Amazon's fundamentals are strong, the company's stock chart also reveals intriguing patterns. One such pattern worth noting is the double bottom pattern, which resembles the letter 'W.' This pattern typically indicates a potential reversal of a downtrend and suggests that the stock may be poised for an upward movement.

    @MillionaireTiger 

    $Netflix(NFLX)$ 

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  • icycrystal
    ·2023-09-15
    @xXxZealandxXx @LMSunshine @koolgal @HelenJanet @aunteenat @GoodLife99 @xXxZealandxXx come comment and win coins [smile] [smile] [smile]
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  • Kok
    ·2023-09-15
    Amazon.
    Obvious double bottom. Worst is definitely over. Don't miss the boat when it doubles in value over the next few years.
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  • Shyon
    ·2023-09-14
    Another double bottom pattern found in AMD chart. Do you agree? Come and learn together!
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  • BTS
    ·2023-09-18
    Affirm Holdings Inc (AFRM)
    “Double Bottom” pattern formed between Jun 2023~Aug 2023
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  • WanEH
    ·2023-09-15
    it's easy to spot the W chart, but it's hard to predict that the share will continue to go up
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  • Khikho
    ·2023-09-14
    很多双低的啊，容易找
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  • YasuHiro
    ·2023-09-15

    Great ariticle, would you like to share it?

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  • KBNZ
    ·2023-09-14
    Great ariticle, would you like to share it?
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  • Alas1209
    ·2023-09-14
    Great ariticle, would you like to share it?
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  • 財運到財源滾滾到
    ·2023-09-17
    👍🙏
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  • KSR
    ·2023-09-15
    👍
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