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Double Top
Note OTC: HRVOF is used on the chart - same company.
Fool me once, shame on you. Fool me twice, shame on me. Essentially that is what a double top. Prices climb to new highs, then recede. Following the recession then surge again head back up. However, when the shares price gets to the prior high the momentum dies off once again then tumbles back down. This my friends are what we refer to as a double top.
There is more to it than expressed above, however, that is how it can be summed up in a nutshell. What you can look for is a run-up where prices surge for a prolonged period of time initially before the peak and then dip and peak again before rounding over. Sometimes the dips in between the two peaks can be drawn out like a Lord of the Rings film before the next bit of action (the peak) occurs again. Other times they can seem near immediate. Once the second peak is confirmed and is in and prices start to decline again, look for key areas of support to hold before the stock looks to resume to tumble. This may be an area where people looking to go short on a sock have the opportunity to notice and take their position.
Some people suggest that the tops should be spaced out by about a month to be taken seriously as normal market volatility can cause such an appearance, it is always beneficial to consider peaks that are tighter together too after such drastic runs as Organigram did in the chart below. Note that this bearish sentiment is bound to last forever. CHarts change all the time, as should you.