A Bullish Reversal Signal Found In China Renaissance

Is the trend of China Renaissance (1911.HK) reversing up?

Using the "Technical Insight" research tool under the Market Analysis tab, Double Bottom, an intermediate-term bullish technical event (6 weeks to 9 months), has been identified in China Renaissance.


The Double Bottom means that the price seems to have reached a bottom after failing to break through a support level and ultimately rising higher in a sign of reversal to a new uptrend.

The Double Bottom pattern forms during a downtrend as the price reaches two distinct lows at roughly the same price level. Volume reflects a weakening of the downward pressure, tending to diminish as the pattern forms, with some pickup at each low, less on the second low. Finally the price breaks upward above the highest high to confirm the bullish signal.


Source: GAIN Capital, Technical Insight

Related tags: Equities China

Open an account in minutes

Experience award-winning platforms with fast and secure execution.

Live Trading Webinars

Our interactive webinars, led by our industry experts, come highly recommended and can help provide your trading with the edge it needs.
Economic Calendar