Long
Bullish: Cup & Handle Pattern On Charts !
Cup & Handle Pattern Confirmation:
1) Forming cup with 'U' shape
2) The handle is getting formed in the upper half of the cup
3) The volume has decreased while forming the handle
Interpretation:
- The stock was in an uptrend until it hit the major resistance(near to all-time high)
- Selling pressure incurred due to people who were stuck at high prices
- Not many are selling (as volume has decreased), weak hands got removed
- Can consolidate for some time
- whenever volume starts increasing, it can test previous all-time high
Waiting for volume to increase for a fresh breakout.
1) Forming cup with 'U' shape
2) The handle is getting formed in the upper half of the cup
3) The volume has decreased while forming the handle
Interpretation:
- The stock was in an uptrend until it hit the major resistance(near to all-time high)
- Selling pressure incurred due to people who were stuck at high prices
- Not many are selling (as volume has decreased), weak hands got removed
- Can consolidate for some time
- whenever volume starts increasing, it can test previous all-time high
Waiting for volume to increase for a fresh breakout.
Trade chiuso: obiettivo raggiunto
Touched new all time high. 196.50. Cheers. :)
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.