What is a diamond bottom?
A diamond bottom is a bullish, trend reversal, chart pattern.
A diamond bottom is formed by two juxtaposed symmetrical triangles, so forming a diamond.
A diamond bottom has to be preceded by a bearish trend. This pattern marks the exhaustion of the selling current and investor indecision.
Volatility and oscillations increase in the first half of the pattern (i.e. in the symmetric broadening wedge pattern); then decrease in the second half of the pattern (i.e. in the symmetric triangle).
A diamond bottom’s price objective is calculated by plotting the maximum height of the diamond at the exit point.
In general, the exit movement is as fast as the downward movement that preceded it.
Using these parameters $27 is guaranteed on toast<----
-- TOAST- Prices have moved above the 50-day and 200-day moving average lines.
--TOAST- The daily On-Balance-Volume (OBV) line made a low in June and has since improved, buyers of TOST are acting more aggressively than sellers. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line and bullish.
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