These stocks, DryShips, Inc, Demand Media, Inc, Icahn Enterprises, L.P, EGShares Emerging Markets Metals/Mining, and Frontier Communications Corporation, 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 DryShips, Inc (DRYS) fell by 3.28% or $-0.11/share to $3.24. In the past year, the shares have traded as low as $1.75 and as high as $5.10. On average, 9835300 shares of DRYS exchange hands on a given day and today's volume is recorded at 6621110.
Shares of Demand Media, Inc (DMD) fell by 0.57% or $-0.04/share to $6.96. In the past year, the shares have traded as low as $5.24 and as high as $27.38. On average, 300540 shares of DMD exchange hands on a given day and today's volume is recorded at 112892.
Shares of Icahn Enterprises, L.P (IEP) traded higher by 1.36% or $0.60/share to $44.6. In the past year, the shares have traded as low as $34.93 and as high as $46.62. On average, 13100 shares of IEP exchange hands on a given day and today's volume is recorded at 24864.
Shares of EGShares Emerging Markets Metals/Mining (EMT) remained unchanged at $15.73. In the past year, the shares have traded as low as $13.46 and as high as $22.79. On average, 6370 shares of EMT exchange hands on a given day and today's volume is recorded at 0.
Shares of Frontier Communications Corporation (FTR) fell by 1.37% or $-0.06/share to $4.31. In the past year, the shares have traded as low as $3.72 and as high as $8.07. On average, 20742840 shares of FTR exchange hands on a given day and today's volume is recorded at 13686540.
