AMIORG -Cup and Handle pattern - WklyAMIORG -Cup and Handle pattern, which is a bullish continuation pattern often used in technical analysis to predict future price movements. Here are the key points:
Cup and Handle Pattern: This pattern suggests a period of consolidation (the “cup”) followed by a slight dip (the “handle”) before a potential breakout to higher prices.
Neckline/Support: The neckline is marked at 1429. This is a critical resistance level. If the price breaks above this level, it could confirm the pattern and lead to further gains.
Cup Height: The height of the cup from the neckline is 598. This measurement can be used to estimate the potential price target if the pattern completes successfully.
Volume: We see some volumes from 4 weeks indicate the strength of the buying.
