A double bottom pattern in a price history that looks like the letter W. See: Technical analysis.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
In technical analysis, a price trend characterized by a sharp fall, then a sharp rise, then a second sharp fall, and finally a second sharp rise. It is called a W formation because the series of rises and falls vaguely looks like the letter W. Technical analysts may consider a W formation a buy signal if the second sharp rises outpaces the two previous price highs.
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