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Clarification needed: Double top

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Old 17th May 2006, 05:33 PM
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Default Clarification needed: Double top

Hai,

[I'm learning about technical analysis]
I've attached the chart of Satyam computers.

1. Has it formed a double top? (From its expected growth I dont think its price will decrease...but technical analysis tells so...)
2. Can double top form in a short duration? (like around 40 days in this case)

Praveen.
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File Type: gif Satyam.gif (25.2 KB, 71 views)



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Old 17th May 2006, 08:46 PM
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Default Re: Clarification needed: Double top

Praveen
Good questions

It does look like a double top, but the volumes are shrinking on declines, which means it could well be a consolidation, rather than reversal

Meanwhile , see this linkhttp://www.chartfilter.com/reports/c32d.htm

the example here shows a double top spanning just a few weeks ... so 40 days is defy not a short duration

By the way in recent weeks lots of scrips would have gone into such patterns (many cement stocks for instance) but v few would be undergoing reversals

AGILENT
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Old 18th May 2006, 09:58 AM
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Default Re: Clarification needed: Double top

Thanks for your comments, Agilent.

Praveen.
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Old 10th January 2013, 10:45 AM
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Default Re: Clarification needed: Double top

Quote:
Originally Posted by bvpraveen View Post
Hai,

[I'm learning about technical analysis]
I've attached the chart of Satyam computers.

1. Has it formed a double top? (From its expected growth I dont think its price will decrease...but technical analysis tells so...)
2. Can double top form in a short duration? (like around 40 days in this case)

Praveen.
http://stockcharts.com/school/doku.p...e_top_reversal


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