Triple Bottom Chart Pattern #trading #stockmarketanalysis

Triple Bottom Chart Pattern #trading #stockmarketanalysis

A Triple Bottom is a bullish reversal chart pattern that indicates a shift from a downtrend to an uptrend. It forms when the price tests a support level three times without breaking below it, showing strong buying interest at that level.

Key Characteristics:

1. Three Lows at a Similar Level: Price touches the same support level three times, forming a clear bottom.
2. Downtrend Precedes the Pattern: It usually appears after a prolonged downtrend.
3. Breakout Confirmation: A bullish breakout occurs when the price moves above the resistance level (neckline) formed by the highs between the bottoms.
4. Volume Increase: Volume often rises during the breakout, confirming strength in buying momentum.

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