2waytrading

Classic Rounded Bottom (Sharp upside rally may soon happen)

NYSE:EQT   EQT CORP
70 0 0
Today's price action is indeed worrisome and the inside bar is a weakness, but in general, there is a bullish rounded bottom that has formed last few weeks. The Rounded Bottom represents a slow and gradual reversal of the trend from down to sideways to up. Volume diminishes near the bottom as the stock trades within a range and finally bursts as investors become more decisively bullish . While rarer than other reversal patterns and often longer term, Rounded Bottoms usually mark a major turnaround. Just wait and see if price breakout from 98.98 area which buy point. You can also check out if you are interested in real-time alerts http://www.2waytrading.com
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