ALBT - Megaphone Bottom Pattern
Bullish: The rare Megaphone Bottom—a.k.a. Broadening Pattern—can be recognized by its successively higher highs and lower lows, which form after a downward move.
The bullish pattern is confirmed when, usually on the third upswing, prices break above the prior high but fail to fall below this level again.
Megaphone patterns are considered both reversal and continuous patterns and usually appear at major market tops and bottoms. This pattern may be also called an “Inverted Symmetric Triangle” pattern or “Broadening” pattern and usually develops after a strong up or downtrend in the stock price.
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