These stocks, iShares MSCI Switzerland Index, Guess' Inc, Focus Media Holding Ltd, Mechel OAO, and PICO Holdings Inc, 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 iShares MSCI Switzerland Index (EWL) traded higher by 0.53% or $0.13/share to $24.85. In the past year, the shares have traded as low as $20.65 and as high as $27.98. On average, 195280 shares of EWL exchange hands on a given day and today's volume is recorded at 375625.
Shares of Guess' Inc (GES) fell by 1.29% or $-0.42/share to $32.04. In the past year, the shares have traded as low as $25.81 and as high as $44.92. On average, 1494970 shares of GES exchange hands on a given day and today's volume is recorded at 2312299.
Shares of Focus Media Holding Ltd (FMCN) traded higher by 1.24% or $0.35/share to $28.64. In the past year, the shares have traded as low as $8.79 and as high as $37.58. On average, 2127370 shares of FMCN exchange hands on a given day and today's volume is recorded at 1422601.
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 PICO Holdings Inc (PICO) traded higher by 0.35% or $0.08/share to $22.96. In the past year, the shares have traded as low as $18.56 and as high as $32.74. On average, 63150 shares of PICO exchange hands on a given day and today's volume is recorded at 52639.
