Y Ventures - Bearish Double Top

Y Ventures Group Ltd forms bearish "Double Top" chart pattern Aug 17, 2020 Recognia has detected a "Double Top" chart pattern formed on Y Ventures Group Ltd (1F1:SGX-ST).  This bearish signal indicates that the stock price may fall from the close of 0.087 to the range of  0.070 - 0.080. The pattern formed over 43 days which is roughly the period of time in which the target  price range may be achieved, according to standard principles of technical analysis. Tells Me: The price seems to have reached a top, after failing to break through a resistance level and  ultimately breaking downward in a sign of reversal to a new downtrend. The Double Top pattern forms  during an uptrend as the price reaches two distinct peaks at roughly the same price level. Volume  reflects a weakening of the upward momentum, tending to diminish as the pattern forms, with some  pickup at each high, less on the second high. Finally the price breaks down below the lowest low  to confirm the bearish signal. This bearish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.

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Rule number 2:: No Rule number 2, strictly master Rule Number 1 and you are likely to succeed in Technical Trading.