Need penny stocks Formed two bottoms

Screening Filters

1. Price: min 0.50, max 5

   • Purpose: Limit the search to penny stocks.
   • Rationale: Since the user asked for penny stocks, this price band keeps the screener focused on low-priced names that fit that category.

2. Moving Average Relationship: PriceAboveMA5, PriceAboveMA20, PriceCrossAboveMA20

   • Purpose: Identify stocks showing improving short- to medium-term trend strength.
   • Rationale: A stock that is trading above or crossing above key moving averages often suggests momentum is turning positive. For a stock that has formed a double bottom, this helps find names that are starting to confirm a reversal after the second bottom.

3. Support/Resistance Relationship: PriceBreakResistance, PriceAroundSupport

   • Purpose: Find stocks that are near the key technical areas associated with a double-bottom setup.
   • Rationale: A two-bottom pattern is usually built around repeated support holding and then a breakout above resistance (the neckline).
     • PriceAroundSupport helps catch stocks still holding the lower boundary of the pattern.
     • PriceBreakResistance helps catch stocks that have completed the pattern and are confirming the reversal.

4. Candlestick Pattern: InverseHeadAndShoulder, AscendingTriangle, WhiteCandlestick, LowerShadow

   • Purpose: Capture bullish price-action patterns that often appear around reversal formations.
   • Rationale: Although “two bottoms” specifically refers to a double-bottom structure, these candlestick patterns are useful complementary signals:
     • InverseHeadAndShoulder can resemble a broader reversal base similar in spirit to a double bottom.
     • AscendingTriangle suggests buyers are becoming more aggressive and a breakout may be forming.
     • WhiteCandlestick and LowerShadow indicate buying strength and rejection of lower prices, which are common near a successful second bottom.

Why Results Match:

• The price filter ensures the results are true penny stocks.
• The support/resistance filters are the most directly tied to a two-bottom formation, because double bottoms are defined by repeated support and a breakout above resistance.
• The moving average filters help screen for stocks that are beginning to reverse upward after the second bottom.
• The candlestick patterns add confirmation from price action, improving the odds of finding stocks that are actually forming or confirming the pattern rather than just trading cheaply.