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Rounded Ground and a Low Cap in Pattern Formation $WELL$
It is a pattern of trend reversal, from bearish to bullish. It is also known by other names, such as tureen, saucer, sleeping floor.
It appears in the final stretch of a downtrend, with the price reaching a support level or lows where it will remain for a considerable time until it begins to turn upwards. Thus, it is characterized by the fact that the reversal or change of trend occurs slowly and progressively. Until that time comes, it is a market "forgotten" by investors.
On the chart you can see a rounded bottom pattern, how prices within a downtrend are forming a bottom and instead of starting to rise the price stays in the low zone for a while, flattening the fall little by little, until finally the change of trend from bearish to bullish occurs.