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Technical Market Research and Investor Coaching

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Chart Patterns

Double Top

Pattern Description:

The double top is a major reversal pattern that forms after an extended uptrend. The pattern is made up of two consecutive peaks that are roughly equal, with a moderate trough in-between. As illustrated below, a double top consists of two well-defined, sharp peaks at approximately the same price level. A double top occurs when prices are in an uptrend. Prices rise to a resistance level, retreat, return to the resistance level again before declining. The two peaks should be distinct and sharp. The pattern is complete when prices decline below the lowest low in the formation. The lowest low is called the confirmation point.

Introduction to Scanning in MetaStock

The Explorer is one of the most powerful tools in MetaStock. It gives you the capability to search through thousands of securities at a time to help you find those hidden gems. To take full advantage of this powerful tool, it’s important that you have a good understanding of its capabilities.

Rheinmetall on the verge of becoming a global arms giant.

by Tim Straiton

Rheinmetall (RHM) is currently trading at EUR 524.50 and is 37% above its 200 day moving average. It traded as high as 571 in early April 2024. The current short-term consolidation is likely to give way to further upside. The MACD reflects the fading downside price action. Growth ambitions and future plans Rheinmetall AG, a major player in the international arms market, is on a dynamic expansion path. In view of the strong demand for weapons and ammunition, particularly due to the...

Broadcom - a remarkable change in sentiment.

2026-04-16 by Tim Straiton

Broadcom Inc.(AVGO) is an American multinational designer, developer, manufacturer, and global supplier of a wide range of semiconductor and infrastructure software products. Broadcom's product offerings serve the data center, networking, software, broadband, wireless, storage, and industrial markets.This stock isn’t cheap, trading at a forward P/E of 33.41x against a group average of 22.84x. It holds strong positions with major AI players (Google, Meta, OpenAI), which is supportive for the stock price.

The current technical view reveals a strong case of FOMO. The previous six daily closes landed all above the upside Bollinger band, the 14 day relative strength index is at an overbought level of 77% and the choppiness index is at an extreme low level of 29. A phase of bullish exhaustion could well be close at hand.

Disclaimer

Our opinions are not a recommendation to buy or sell a security. Your decision whether or not to open a transaction should be based on your own due diligence and not on any representation we make to you.

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Nerdwallet.com

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