IBB formed a rising wedge. Both lines are uptrend. The angle of ascent is steeper on the support line. The pattern form highs higher than previous and each low is successively higher as well. After a few attempts, the prices finally break through support.
To confirm the breakout, the price should close below the support line, if so, make a short. The profit...
Double Top:
The double top is a reversal pattern of an upward trend in a stock's price. The double top marks an uptrend in the process of becoming a downtrend.
Sometimes called an "M" formation because of the pattern it creates on the chart, the double top is one of the most frequently seen and common of the patterns. Because they seem to be so easy to identify,...