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 closed: target reached
Touched new all time high. 196.50. Cheers. :)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.