{"id":2239,"date":"2013-02-28T15:17:29","date_gmt":"2013-02-28T15:17:29","guid":{"rendered":"http:\/\/blog.thehotpennystocks.com\/?p=2239"},"modified":"2013-04-09T11:36:26","modified_gmt":"2013-04-09T11:36:26","slug":"double-top-pattern","status":"publish","type":"post","link":"\/learn\/double-top-pattern\/","title":{"rendered":"Double Top Pattern"},"content":{"rendered":"

The Double Top Pattern is formed when a stock’s price climbs to a resistance level once, bounces off and then climbs right back the same resistance level. Therefore, usually within a short time span, a stock hit two highs of nearly the same price. The Double Top Pattern is considered a reversal pattern.<\/span><\/p>\n

\"double<\/p>\n

The above chart shows an example of a Double Top Pattern. You can see the two “tops” formed after the share price had a recent climb. By the stock hitting these two “tops” or peaks, it is confirming a strong resistant. Therefore, it is likely that the stock will have great difficulty going any higher. The direction it will likely go is down.<\/p>\n

\"double<\/p>\n

 <\/p>\n

Chart Patterns : Table of Contents<\/h3>\n
    \n
  1. What are Chart Patterns?<\/a><\/li>\n
  2. Symmetrical Triangle<\/a><\/li>\n
  3. Ascending Triangle<\/a><\/li>\n
  4. Descending Triangle<\/a><\/li>\n
  5. Double Top<\/a><\/li>\n
  6. Double Bottom<\/a><\/li>\n
  7. Head and Shoulders<\/a><\/li>\n
  8. Reverse Head and Shoulders<\/a><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

    The Double Top Pattern is formed when a stock’s price climbs to a resistance level once, bounces off and then climbs right back the same resistance level. Therefore, usually within a short time span, a stock hit two highs of nearly the same price. 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