A very bearish technical reversal pattern. A double top occurs when a stock or asset reaches a high two consecutive times with a slight decline between the highs. Once the price falls below a support level equal to the low between the two highs, the bearish momentum is confirmed. The opposite of a double top is a double bottom, which is taken as a bullish indicator.
Double Top
Market Terms
We don't know everything about the markets. We're just devoted to learning. Taken from those smarter than ourselves, here's how we define Double Top.