Triple Bottom Formation Analysis

The chart indicates a Triple Bottom pattern, suggesting a potential reversal from the downtrend. The three troughs, nearly at the same price level, show strong support around 8.867. The neckline resistance at approximately 11.651 is crucial for confirmation. If the price breaks above this resistance, it could indicate a bullish trend reversal. The RSI supports this potential uptrend, moving from oversold levels. A buy signal would be confirmed above the neckline with a target around 14.345 and a stop loss below 8.201, ensuring risk management.