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Sounds kind of dirty, right? Actually, it's because of a clean visual that technical analysts use this term. Technical analysts like charts (hence their nickname of "chartists"), and they like to give certain patterns they see neat little names.
Such is the case with the double bottom, which looks on a chart like, well, a double bottom. Think of three mountains (on a chart reflecting a rise in values) separated by two valleys (representing dips in value). The troughs of the valleys, and the size of the first two peaks, are generally the same, so the chart looks like the letter 'W.' The appearance of those two valleys represents a double bottom.
So what? Well, if you're one of those folks who believes in the power of the charts, seeing a double bottom suggests a long-term trend is about to reverse. So, if a stock chart shows shares falling for several months, then seeing a double bottom, chances are good (according to the chartists) that the shares will rise. And vice versa.
But, beware: charts can be a great tool, but they're more art than science. Use any charts with caution.
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Thursday, May 08, 2008
Honda Recalls About 1,400 ATVs On Steering Shaft Fail Risk
Wallace Witkowski
MarketWatch Pulse
SAN FRANCISCO -- American Honda Motor Co., a unit of Honda Motor Co. , recalled about 1,400 all-terrain vehicles because an electric power steering shaft could break posing a risk of injury or death to riders, the Consumer Product Safety Commission said Thursday. The recall involves 2008 electric power steering models of Honda's TRX500 ATV and FourTrax Foreman 4X4. No incidents or injuries connected to the ATVs have been reported, the CPSC said.
Copyright © 2008 MarketWatch, Inc.
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