Double Top?
$Lithium Americas (LAC.US)$
looks like a double top forming. I can see the profit take happening. one might expect the price to come back down to the lower end of the horizontal range or the trending range
looks like a double top forming. I can see the profit take happening. one might expect the price to come back down to the lower end of the horizontal range or the trending range
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欢乐马77 : Can stand on 32 then will fall to 30 likely.
SpyderCall OP 欢乐马77 : sounds very plausible. i am thinking the same
Juxcy : What happens next after double top forming?
SpyderCall OP Juxcy : usually it is bearish. it depends. but today was red also so the bearish double top is looking more bearish. but lithium and other commodities have run up a lot recently. people must take profit sometimes.
SpyderCall OP Juxcy : Another consecutive red day after a double top. Double tops are followed by small corrections sometimes. Sometimes bigger corrections. I would expect the price to return to a previous support level like shown in the picture. Before it goes back up we should retest some support level.