These stocks, GFI Group Inc, GeoEye, Inc, DryShips, Inc, Southwest Airlines Co, and Foster Wheeler AG, have been showing double bottom patterns on March 25. The double bottom pattern is found at the lowest point of an downward trend. This signals that the downward trend is weakening and that buyers are gaining interest. The start of the pattern is a new low during the downward trend and after this point it finds support which stops the stock from falling further. Once it has found support, it rises to a new resistance level. This sequence happens again and when the stock reaches its support level it will rise to the resistance level again, thus starting an uptrend. The stock needs to break out from the support level so it can rise further. High volume will validate a breakout. Investors should pay specific attention to the support and resistance levels, which will help them determine when to buy or sell the stock.
Shares of GFI Group Inc (GFIG) traded higher by 1.56% or $0.06/share to $3.9. In the past year, the shares have traded as low as $3.55 and as high as $5.06. On average, 272840 shares of GFIG exchange hands on a given day and today's volume is recorded at 559622.
Shares of GeoEye, Inc (GEOY) traded higher by 1.11% or $0.27/share to $24.6. In the past year, the shares have traded as low as $17.98 and as high as $42.38. On average, 340530 shares of GEOY exchange hands on a given day and today's volume is recorded at 259346.
Shares of DryShips, Inc (DRYS) traded higher by 1.50% or $0.05/share to $3.38. In the past year, the shares have traded as low as $1.75 and as high as $5.12. On average, 9675650 shares of DRYS exchange hands on a given day and today's volume is recorded at 5063999.
Shares of Southwest Airlines Co (LUV) traded higher by 0.49% or $0.04/share to $8.23. In the past year, the shares have traded as low as $7.14 and as high as $12.85. On average, 6116020 shares of LUV exchange hands on a given day and today's volume is recorded at 6606665.
Shares of Foster Wheeler AG (FWLT) traded higher by 0.35% or $0.08/share to $22.71. In the past year, the shares have traded as low as $16.40 and as high as $38.74. On average, 1472240 shares of FWLT exchange hands on a given day and today's volume is recorded at 626616.
