These stocks, Centrais Electricas Brasileiras S.A, PICO Holdings Inc, AsiaInfo-Linkage,Inc, Mechel OAO, and General Motors Company, 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 Centrais Electricas Brasileiras S.A (EBR) fell by 1.30% or $-0.12/share to $9.1. In the past year, the shares have traded as low as $8.24 and as high as $15.66. On average, 821070 shares of EBR exchange hands on a given day and today's volume is recorded at 576274.
Shares of PICO Holdings Inc (PICO) fell by 0.26% or $-0.06/share to $23.21. In the past year, the shares have traded as low as $18.56 and as high as $32.74. On average, 61750 shares of PICO exchange hands on a given day and today's volume is recorded at 44277.
Shares of AsiaInfo-Linkage,Inc (ASIA) traded higher by 6.06% or $0.68/share to $11.91. In the past year, the shares have traded as low as $6.21 and as high as $22.60. On average, 658420 shares of ASIA exchange hands on a given day and today's volume is recorded at 514675.
Shares of Mechel OAO (MTL) fell by 1.10% or $-0.10/share to $8.96. In the past year, the shares have traded as low as $7.76 and as high as $32.20. On average, 3300130 shares of MTL exchange hands on a given day and today's volume is recorded at 2101169.
Shares of General Motors Company (GM) fell by 1.16% or $-0.29/share to $24.81. In the past year, the shares have traded as low as $19.00 and as high as $33.47. On average, 11384780 shares of GM exchange hands on a given day and today's volume is recorded at 8136947.
