Most of the Original Pallette snapshots I can find seem to always have the thin red line as the 1st reflection ...
Then a thicker red line (as seen in the mid section below) would indicate larger rocks (or a shale layer as slabbacks referred to) ...
The thick red line in the below pic may even be a rock pile (from the shape of the return in addition to the thicker red line)....
I think cookie may also be correct in that the underlying layers may have something to do with how much of the pulse is reflected ...which would attribute to the multiple echoes we saw in the OP image ...
Rickie