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#1
17th May 2006, 05:33 PM
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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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#2
17th May 2006, 08:46 PM
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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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