LT - Cup & Handle
Updated
Cup & Handle :
1) Strong upmove on weekly
2) relatively deeper base, retraced 50% upmove, but strong buying emerging in the second half of cup, this is institutions buying
3) very shallow handle getting formed, not much selling is happening now at these levels
4) 3 weeks tight closes above the prior resistance region, this is a sign of accumulation
5) declining volumes on the last leg of consolidation, again a positive sign
6) RS very near to bo as well, consolidating at 52 week highs
1) Strong upmove on weekly
2) relatively deeper base, retraced 50% upmove, but strong buying emerging in the second half of cup, this is institutions buying
3) very shallow handle getting formed, not much selling is happening now at these levels
4) 3 weeks tight closes above the prior resistance region, this is a sign of accumulation
5) declining volumes on the last leg of consolidation, again a positive sign
6) RS very near to bo as well, consolidating at 52 week highs
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