Acuity Brands Cup and Handle Pattern Acuity Brands, Inc (AYI) is an industrial technology company. They provide lighting and building management solutions in North America and internationally. The company was incorporated in 2001 and is headquartered in Atlanta, Georgia. AYI is a component of the S&P 400 Mid Cap Index
Market Cap: 5.968B
Beta (5Y Monthly): 1.54
PE Ratio (TTM): 16.75
Average Volume: 277,357 (1)
Cup and Handle (Bull Market Stats):
Overall performance rank (1 is best): 3 out of 39
Breakeven failure rate: 5%
Average rise: 54%
Throwback rate: 62%
Percentage meeting price target:
The above numbers are based on 913 perfect trades. (2)
AYI
Daily Volatility (Standard deviation YTD): 2.20%
Annualized Volatility (Standard Deviation YTD): 34.24%
S&P 400 Mid Cap Index
Daily Volatility (Standard deviation YTD): 1.59%
Annualized Volatility (Standard Deviation YTD): 24.76%
(The above were calculated using historical data)
The data above shows the daily and annualized volatility for AYI and the index it is a component of. As you can see AYI has a higher daily and annualized volatility. This can be good or bad. Depending on the way the stock goes and your position. For this pattern, I would say this is a good thing - the pattern requires volatility to breakout and reach the price target.
AYI has formed a cup and handle chart pattern. This pattern, as the name suggests, looks like the top ridge of a cup and the handle. The pattern forms as follows: price rise - left peak forms - price goes down at an angle and forms a trough - price rises again at an angle to form a peak. Sometimes, as in this case, the right peak may form a flag/consolidation pattern as well.
The blue line on the chart above represents a line of support for the stock. The red box represents what could possibly be a previous cup and handle position. However, in this pattern and the one on the right, I'm not that convinced of their authenticity.
The price rise before the pattern formations is not that convincing. I would ideally like to see an upwards trend for at least 3 months. The price has been in a downward trend YTD and then moving horizontally for nearly six months. However, this horizontal movement may be useful - if there is a upward breakout, the momentum could be strong.
Cup and handle patterns are ranked 3/34 patterns - meaning when done right, the pattern can bring good performance. The Breakeven failure rate is 5% which is low and hence a good signal. The Throwback rate is 62% which may be a concern. Especially if the pattern is not that strong - as in this case.
Totaling this all together, I would give this pattern a rating is 3/5. The ROI may not seem sufficient to justify a long position. Henceforth this is a riskier position.
The main issues are:
A previous cup and handle position formed before that did not breakout
Lack of a strong upwards trend before the pattern formation
The pattern duration is around 10 weeks. This is within the range of ideal 7 - 65 weeks, albeit at the lower end of the spectrum.
The price target is the difference between the right peak and trough * the percentage meeting price above:
$204.54
From the current price that represents a 9.13% ROI.
Macroeconomic considerations:
Interest rates are rising and so will inflation. We are most likely already in a recession. I would not be concerned about this for this trading idea. This will most likely be a short-term trade for a couple of weeks once the stock breaks out with a close above the trendline.
Fundamental analysis:
Since this will be a short-term trade, I did not find the need to include any further research- the next earnings is not until January so no concerns.
References:
1 finance.yahoo.com/quote/AYI
2 thepatternsite.com/cup.html
Cupandhandlebreakout
Deep Industries Limited - Cup & Handle Breakout📊 Script: DEEPINDS (DEEP INDUSTRIES LIMITED)
📊 Nifty50 Stock: NO
📊 Sectoral Index: N/A
📊 Sector: Energy Oil Gas & Consumable Fuels
📊 Industry: Offshore Support Solution Drilling
Key highlights: 💡⚡
📈 Script is trading at upper band of Bollinger Bands (BB) and giving breakout of it.
📈 MACD is giving crossover.
📈 Already crossover in Double Moving Averages.
📈 Volume is increasing along with price which is volume breakout.
📈 Script is giving breakout of Cup & Handle pattern.
📈 Current RSI is around 72.
📈 One can go for Swing Trade.
⏱️ C.M.P 📑💰- 297.95
🟢 Target 🎯🏆 - 340
⚠️ Stoploss ☠️🚫 - 274
⚠️ Important: Always maintain your Risk & Reward Ratio.
⚠️ Purely technical based pick.
✅Like and follow to never miss a new idea!✅
Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
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Happy learning with trading. Cheers!🥂
1212: TASI ASTRA INDUSTRIAL GROUPBreakout is observed,
An aggressive Entry @ current level can be taken
Conservative Entry can be taken after retest (formation of HL)
Cup and Handle Pattern
AB=CD Harmonic Pattern
Ascending Triangle Pattern
Formation of HH, HL, Dow theory Bullish trend
Enjoy the ride
Fib Levels and extensions are mentioned for TPs (Long term targets)
Trail your stop loss accordingly
1212: TASI ASTRA INDUSTRIAL GROUPBreakout is observed,
An aggressive Entry @ current level can be taken
Conservative Entry can be taken after retest
Cup and Handle Pattern Formation
AB=CD Harmonic Pattern
Formation of HH, HL, Dow theory Bullish trend
Enjoy the ride
Fib Levels and extensions are mentioned for TPs (Long term targets)
Trail your stop loss accordingly
TSLA breaks above Cup and HandleAs shown on the daily chart TSLA started the cup of a cup and handle pattern
in early May and completed the cup in mid-August The handle then formed.
Central to the trading of the cup and handle is that upon clearing above the
price level of the top of the cup, the stock will begin bullish continuation.
TSLA is now at the top of the cup and potentially in continuation.
Setting a buy stop slightly below the current price with a stop just below
the top of the cup at perhaps $306 would seem to be a low-risk long
trade setup.
AMPS - Cup w/ Handle Breakout BuyAMPS is coming out of a textbook cup with handle pattern, triggering a buy here.
AMPS is somewhat of an under-the-radar solar stock. Unlike most solar companies which make panels, chips, or mounting systems for customer-owned solar energy systems, Altus is an electric utility company whose power comes exclusively from solar generation.
I actually prefer the names that don't already have a million eyeballs on them. EVERYONE is watching ENPH, FSLR and the other big solar names. But AMPS is setting up to be a big mover.
The 200-day moving average is finally turning up, signaling the beginning of the stock's first Stage 2 uptrend. If this is indeed the beginning of a new stage (see my previous post on the 4 Stage of the Stock Cycle), there could be massive upside from here.
Cup handle and major resistance breakout with rsi support Carborundum was give a very good breakout of major resistance and cup handle pattern which give a very bullish signals buy it . Today it close above 920 but tomorrow market open with gap down which give us opportunity soo buy it .
Buy carborundum at 884-918
Target 962 1012 1034
Sl 808
650 for the longterm players
Long term Target 1200 1500 1800
AMZN Has a Broken Handle!Amazon has a broken handle!
The handle of the classic cup and handle broke this afternoon on the weekly chart.
I am bullish on Amazon for this reason and because SPY is trading above 400!
I strongly believe that Amazon has a strong move ahead of today.
Blessed beyond measure,
MrALtrades00
*This is not financial advice.
Will TSLA have a bloodfree September?NASDAQ:TSLA
On the 2 Hr chart, TSLA seems to be forming the handle of a cup and handle pattern
started back in April.
The MACD shows K/ D signals about to cross under the histogram while the 'RSI
oscillator shows no divergence that would suggest a reversal of the downtrend.
So, will the pattern be intact and TSLA have a good September with
bullish continuation or instead will there be more blood in the street for
September and TSLA continue on its downtrend?
What is your opinion
Mahindra holidays amd resorts india LtdMahindra holidays amd resorts india Ltd good for swing trading
Buying this stock also because cup and handle pattern is forming
volume is hingh
cup and handle breakout
BUY =286.45
Stop loss=261
1st target =308
2nd target=331
⚠️ Important: Always maintain your Risk & Reward Ratio.
✅Like and follow to never miss a new idea!✅
Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
Eat🍜 Sleep😴 TradingView📈 Repeat 🔁
XAUUSD SPOT GOLD LONG SWING Cup & Handle PatternOANDA:XAUUSD
The 4H XAUAUD is set up on the finish of a cup and handle pattern
and so bullish continuation is about to ensue.
The chart shows the depth /height of the cup.
I will enter when the basis of the Bollinger Bands reverses into an uptrend.
Stop loss will be outside the LBB at that time or alternatively the recent swing low.
Targets, as drawn to the chart, are the POC of the volume profile, the triple top of June
and the double top of May as also shown with arrows.
I expect this to be a high probability trade for a few months with a high yield compared
with the risk. Teh gold bull run will be fueled by continued inflation the erosion of
dollar value (DXY) as well as fear and the flight to safety (VIX).
What is your opinion ?
BOIL Leverage 3X Natural Gas ETF Cup and Handle LONG AMEX:BOIL
BOIL is showing a cup and handle pattern at present
lending increased probability of a bullish continuation
that could yield a 50% price rise over the 45-day width of
the cup. Macro and fundamental factors support ongoing
natural gas price escalations including the supply issues
in Europe, the heat wave from climate change causing
and so on. The cup and handle on a relatively long time
frame increases both its reliability and the time period
for which the pattern to play out.