Have you got any literature to back that up? I'm genuinely curious as I haven't found any analyst well versed in technical trading saying this is a rule at all.
Afterall these movements are based on punters believing they have found the bottom so i don't see why this can only happen once in a downtrend.
I've seen many analysts plot multiple dead cat bounces on strong downtrends so please post some information regarding this.
Possible Dead Cat Bounce?, page-36
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Last
$8.14 |
Change
0.120(1.50%) |
Mkt cap ! $7.589B | |||
| Open | High | Low | Value | Volume |
| $8.15 | $8.27 | $8.09 | $13.41M | 1.650M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 110 | $8.14 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.15 | 18643 | 28 |
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| Last trade - 13.00pm 08/11/2024 (20 minute delay) ? |
| LYC (ASX) Chart |