POV: CGPOWER - Channel + Cup and Handle Breakout
**POV: CGPOWER - Channel + Cup and Handle Breakout**
**Chart Reading:**
1. Today, it started with a 0.6% gap-up, tested, and traded below the previous day's close, then rose and closed above the channel's upper range.
2. There have been five previous breakout attempts. One attempt almost succeeded, but a market downturn pulled it back into the channel.
3. The Cup and Handle pattern formed within the channel. The cup took exactly 25 sessions to form, aligning with my minimum criterion of 20 sessions.
4. The 200 SMA shows a steadily growing path. In my observation, it’s rare to see such a clean rising angle.
5. The channel has been in existence for more than 100 sessions.
6. The average candle range is relatively narrow.
7. Trend and momentum are in sync.
*For educational purposes only. This is not financial advice. Please consult a professional before making financial decisions.*
**#NiVYAMi**
**Chart Reading:**
1. Today, it started with a 0.6% gap-up, tested, and traded below the previous day's close, then rose and closed above the channel's upper range.
2. There have been five previous breakout attempts. One attempt almost succeeded, but a market downturn pulled it back into the channel.
3. The Cup and Handle pattern formed within the channel. The cup took exactly 25 sessions to form, aligning with my minimum criterion of 20 sessions.
4. The 200 SMA shows a steadily growing path. In my observation, it’s rare to see such a clean rising angle.
5. The channel has been in existence for more than 100 sessions.
6. The average candle range is relatively narrow.
7. Trend and momentum are in sync.
*For educational purposes only. This is not financial advice. Please consult a professional before making financial decisions.*
**#NiVYAMi**
Nota
9th Dec 24 : POA and POA_2 Target Achieved
but slips form day high and closed below both mentioned level.
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