Diamond Bottom
The price seems to have reached a bottom, showing signs of reversal as it has broken upward after a period of uncertainty or consolidation. The Diamond Bottom pattern begins during a downtrend as prices create higher highs and lower lows in a broadening pattern. Then the trading range gradually narrows after the highs peak and the lows start trending upward. When the price breaks upward out of the diamonds boundary lines, it marks a significant reversal to a new uptrend.
Event Date: Feb 22, 2016
Opportunity Type: Intermediate-Term Bullish
Close Price: 60.00
Target Price Range: 66.25 ~ 67.50
Price Period: Daily
Volume: 2,317,850
Pattern Duration: 27 days
Inbound Trend Duration: 31 days
Analysis and Chart Source
Firstmetrosec Recognia technical event scan tool
http://fmsec.com.ph/
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