INLOTAnalysis:
Cup and Handle Formation:
The chart displays a rounded formation resembling a cup, starting around mid-2017 and completing in mid-2023. The "handle" seems to be forming in 2024.
This pattern is common in technical analysis and can signal a continuation of the upward trend if the handle breaks out to the upside.
Key Levels:
There’s a marked resistance level around €1.35, which has been tested several times.
A crucial support zone is seen near €0.85 to €1. If this breaks, the chart indicates a possible drop to lower levels.
Potential Targets:
The yellow arrow indicates a bullish outlook, where a breakout above the €1.35 resistance could potentially lead to a rally towards the €2.50 region. This projection is based on the height of the "cup."
Conversely, a breakdown below the support zone could lead to a significant decline.
Risk and Reward Zones:
The red and green shaded areas on the right side of the chart outline possible risk and reward zones, with the red area representing the downside risk and the green area indicating the potential upside if the price breaks out.
Suggested TradingView Description:
The Intralot (INLOT) chart showcases a classic "Cup and Handle" formation, indicating a potential bullish breakout with a target near €2.50 if the €1.35 resistance is cleared. However, the support zone around €0.85 - €1 needs to hold to avoid a downside move. Monitoring the handle formation for breakout confirmation.
