Double tops You can see CML made two tops just above $9 before falling back into previous highs around $7.60. The possibility of a great short arose here. Once the 'v' in the middle of the two tops breaks, this confirms the double top. Such a break often occurs on exceptionally heavy volume, which was the case here [you may wish to view your own chart of CML re volume].

The first top is at $9.22, the 2nd at $9.25. The low between them is at $7.68 [no argument from me if you used $7.80, $7.68 may have been just one odd sale].

Therefore: 922 less 768 = 154. 768 less 154 gives us a target low off the double top of 614. Double top targets, once confirmed with the break of the "v" can often be deadly accurate. I'll forecast CML to bounce back to $7.20 or so from $6.14 / $6.20.

PS - if I had been quick enough to trade it, this would have gone up earlier. I wasn't on this one but this is here to help you try spot the next one in another stock.