These stocks, Cloud Peak Energy Inc, General Motors Company, Mechel OAO, Icahn Enterprises, L.P, and Global X Silver Miners ETF, have been showing double bottom patterns on March 24. 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 Cloud Peak Energy Inc (CLD) traded higher by 0.54% or $0.09/share to $16.75. In the past year, the shares have traded as low as $15.91 and as high as $24.34. On average, 1257510 shares of CLD exchange hands on a given day and today's volume is recorded at 784636.
Shares of General Motors Company (GM) traded higher by 0.48% or $0.12/share to $25.17. In the past year, the shares have traded as low as $19.00 and as high as $33.47. On average, 11130330 shares of GM exchange hands on a given day and today's volume is recorded at 5783326.
Shares of Mechel OAO (MTL) fell by 0.20% or $-0.02/share to $9.81. In the past year, the shares have traded as low as $7.76 and as high as $32.20. On average, 3064320 shares of MTL exchange hands on a given day and today's volume is recorded at 4533069.
Shares of Icahn Enterprises, L.P (IEP) remained unchanged at $43.0. In the past year, the shares have traded as low as $34.93 and as high as $46.62. On average, 14930 shares of IEP exchange hands on a given day and today's volume is recorded at 2200.
Shares of Global X Silver Miners ETF (SIL) traded higher by 2.44% or $0.54/share to $22.67. In the past year, the shares have traded as low as $19.02 and as high as $31.29. On average, 193320 shares of SIL exchange hands on a given day and today's volume is recorded at 148808.
