What is a Triple Bottom?

Hello Mark,

A triple bottom is a bullish chart pattern used when conducting technical analysis. The pattern is identified when three equal lows appear after which the price breaks above the resistance level.

This pattern usually takes shape after an extended downtrend where sellers control the market. The first bottom typically represents a normal price movement, however, the second bottom indicates that the bulls are gaining control and a reversal could be expected. Ultimately, the third bottom signifies a strong support level and tells us that bears may give in once the price breaks above resistance levels.