Clarification needed: Double top

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  #1  
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, 32 views)
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  #2  
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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  #3  
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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