These stocks, Aluminum Corporation Of China Limited, HudBay Minerals, Inc, CONSOL Energy Inc, Alcoa, Inc, and Open Text Corp, have been showing double bottom patterns on April 7. 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 Aluminum Corporation Of China Limited (ACH) traded higher by 3.01% or $0.35/share to $11.97. In the past year, the shares have traded as low as $10.34 and as high as $24.89. On average, 288390 shares of ACH exchange hands on a given day and today's volume is recorded at 348659.
Shares of HudBay Minerals, Inc (HBM) fell by 0.47% or $-0.05/share to $10.63. In the past year, the shares have traded as low as $8.55 and as high as $17.40. On average, 34170 shares of HBM exchange hands on a given day and today's volume is recorded at 24815.
Shares of CONSOL Energy Inc (CNX) fell by 0.47% or $-0.16/share to $33.8. In the past year, the shares have traded as low as $29.85 and as high as $54.75. On average, 4471210 shares of CNX exchange hands on a given day and today's volume is recorded at 3934336.
Shares of Alcoa, Inc (AA) fell by 1.83% or $-0.18/share to $9.63. In the past year, the shares have traded as low as $8.40 and as high as $18.29. On average, 25872200 shares of AA exchange hands on a given day and today's volume is recorded at 24522368.
Shares of Open Text Corp (OTEX) fell by 1.88% or $-1.15/share to $59.95. In the past year, the shares have traded as low as $46.34 and as high as $72.32. On average, 496050 shares of OTEX exchange hands on a given day and today's volume is recorded at 172191.
