4 Stocks With Potential Double Tops

I recently published an article on Investopedia which looks at 4 stocks with potential double tops.

4 Stocks With Potential Double Tops

A double top is a chart pattern in which a stock trends into a price peak, corrects lower and then moves back to nearly the same level as the peak. If the stock then proceeds lower, moving below the prior correction low, a double top is in place. When this pattern occurs, it is a bearish signal for the stock; those that are long should be wary and those looking to get short can use this an opportunity to enter. The pattern needs to complete, though. A double top is not in place until the price breaks below the retracement low of the pattern. The stocks below are potential double tops, which means a trade signal has not been triggered yet. If the pattern does complete, look for these stocks move lower, in some cases significantly.

Read more at : http://www.investopedia.com/stock-analysis/cotd/HD20120625.aspx#ixzz1yvp5NWOo

Cheers,

Cory Mitchell, CMT