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...
Ascending Triangle Confirmation:
- There are 2 swing highs touching the horizontal line
- There are 2 swing lows touching the other triangle line
- Before the triangle, the stock was trending with strong volumes
- In the triangle, the stock is getting consolidated with contracted volumes
Interpretation:
- Ascending Triangle is a continuation pattern
- Here it...
