re: bluescope triple top possible The fundamentals are good to me but this drop today makes it look like its a double or triple top around the 3.80 mark.
What are the details that I should pay attention to in the triple top?
1. Duration of the Pattern
This pattern can take upwards of several months to form. According to Bulkowski, average formation time is approximately four months. In addition, experts, including Schabacker and Murphy, agree that the longer the pattern takes to form, the greater the significance of the price move once breakout occurs. The three highs do not need to be equally spaced from one another.
2. Need for an Uptrend
The triple top is a reversal pattern marking the transition period between an uptrend and a downtrend in prices. It is crucial to the existence of this pattern that it begin with an uptrend of stock prices.
re: bluescope triple top possible The fundamentals are good to...
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