It' possible that if this pattern plays out to the downside Aphria sticks in a Triple Bottom some where equal to the previous two bottoms where I have the green volume icon, ideally the third bottom should be higher than the previous two.
Key Takeaways
A triple bottom is a visual pattern that shows the buyers (bulls) taking control of the price action from the sellers (bears).
A triple bottom is generally seen as three roughly equal lows bouncing off support followed by the price action breaching resistance.
There should be an existing downtrend in place before the pattern occurs.
The three lows should be roughly equal in price and spaced out from each other. While the price doesn't have to be exactly equal, it should be reasonably close to the same price, such that a trendline is horizontal.
Only time will tell, but on a five year chart there's merit for a giant bull flag, see attached chart, or it's possibly a descending triangle. But you can also see a inverse H&S, a lot of familiar bullish patterns.
Key Takeaways
A triple bottom is a visual pattern that shows the buyers (bulls) taking control of the price action from the sellers (bears).
A triple bottom is generally seen as three roughly equal lows bouncing off support followed by the price action breaching resistance.
There should be an existing downtrend in place before the pattern occurs.
The three lows should be roughly equal in price and spaced out from each other. While the price doesn't have to be exactly equal, it should be reasonably close to the same price, such that a trendline is horizontal.
Only time will tell, but on a five year chart there's merit for a giant bull flag, see attached chart, or it's possibly a descending triangle. But you can also see a inverse H&S, a lot of familiar bullish patterns.
