I think its just a bog standard double bottom thats probably...

I think its just a bog standard double bottom thats probably playing out really

a sharp decline is usually followed by a retest of that same bottom.

when a stock bottoms out and then starts rising quickly again, it gives long suffering holders a second chance to offload at a smaller loss than before

so its inevitable in a bad market that those who failed to act before to exit are now considering it again.

I wrote a scanner that analyses the entire market depth looking at the time orders were placed into the market and placing orders at the retesting of lows is a common tactic of traders. when you think about it, it makes for a good risk reward, as the recent low is the support point and a trader can place an order with a very tight stop for a potentially highly profitable trade with minimal downside