1st Example of Double Bottom
22 Nov 07
Base on the 1st chart of Unionmet, it tested 5 times at 0.195, seem like this is the support line at the monment and is forming a double bottom.
1st Resistance set as 0.245....Most technical analysts believe that the advance off of the first bottom should be 10-20%. The second bottom should form within 3-4% of the previous low, and volume on the ensuing advance should increase.
22 Nov 07
26 Nov 07
27 Nov 07
28 Nov 07
19 Dec 07
Base on the 1st chart of Unionmet, it tested 5 times at 0.195, seem like this is the support line at the monment and is forming a double bottom.
1st Resistance set as 0.245....Most technical analysts believe that the advance off of the first bottom should be 10-20%. The second bottom should form within 3-4% of the previous low, and volume on the ensuing advance should increase.
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