because im bored ill answer.. seeing the 1st lo
Post# of 3333
(Total Views: 197)
Posted On: 04/19/2017 3:47:06 PM
Re: PennyStockin #2478
because im bored ill answer..
seeing the 1st low of .012 on march 8th is only a month apart from the most recent low of .0118, its technically speaking not a double bottom as a true DB requires a couple months in between the two lows.
so, we could have a DB pattern but the chances are lower because the two lows are so close (further apart= better).
to answer your question the reason its important is because DB's indicate strength. the stock fell, bottomed.. went back up. bears tried to pull it down again.. but on the second attempt, if a DB forms, it shows the stock is ready to move higher than it was before the first drop. it shows ICNB has the ability to remain higher than previous lows.
in turn, this shows there is a reason for the price to remain at a certain level aka expected news. the point of a DB is that by the time the anticipated news is revealed, the share price skyrockets.. thus forming a DB.
seeing the 1st low of .012 on march 8th is only a month apart from the most recent low of .0118, its technically speaking not a double bottom as a true DB requires a couple months in between the two lows.
so, we could have a DB pattern but the chances are lower because the two lows are so close (further apart= better).
to answer your question the reason its important is because DB's indicate strength. the stock fell, bottomed.. went back up. bears tried to pull it down again.. but on the second attempt, if a DB forms, it shows the stock is ready to move higher than it was before the first drop. it shows ICNB has the ability to remain higher than previous lows.
in turn, this shows there is a reason for the price to remain at a certain level aka expected news. the point of a DB is that by the time the anticipated news is revealed, the share price skyrockets.. thus forming a DB.
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There is a very high degree of risk involved in trading and investing. Past results are not indicative of future returns. I assume no responsibility for your trading and investment results. You should NOT rely on the information in the above post to make any decision or take any action.
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There is no correlation between the number of posts I write per day and your assumed success of a company.
It is NOT my responsibility to inform you of my own personal investment decisions.
It is NOT my responsibility to inform you when it is time for you to buy, hold, and/or sell a position.
I have no control over, and am not responsible for the actions of others who copy, store, edit, change, prepare any derivative work of or alter in any way any of the content provided in my posts.
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