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Cup And Handle

HINDALCO INDS - CUP & HANDLEHINDALCO INDS has formed a Cup & Handle pattern on its weekly chart. This pattern took over 2 years to develop. It is now retesting and has formed a hammer candle. The stock may dip slightly to touch the 50 EMA before reversing upward. Key Takeaway : Identifying support and resistance levels is crucial. Two years ago, the 622 level was a resistance but has now become support after being broken. The Cup formation happened at the 50 EMA, which provided support and then reversed. It has since re-tested this old resistance, which should now act as support. The hammer candle near the 50 EMA suggests a potential reversal. The stock may stay at this level for a few days or start moving up in the coming week. This is for learning and educational purposes only, not financial advice.
NSE:HINDALCO
by SatpalS
2
BTC To Touch $120k | What's Next? | #analysewithahadBTC on the weekly chart is forming cup & handle pattern, indicating a bullish sentiment on a longer timeframe. Near about 15th November'21, BTC started to plummet from the high of $70k to the low of $15,476 on 21th November'22 - Aproximately, BTC took the whole year to fall and pivoted from there to make another high of $73,777 on 11th March'24. BTC has ballooned by 352.45% pre-correction. Now, the correction is looking healthy. BTC, to rally again, need to break the resistance level at $72,774. Once, it is broken with volumes, we might witness a healthy rally till $120K. But, nothing can be said with respect to the time it will take. Just wait and watch.
by iAhadKhan