Cup and handelAre these a cup and handle formation??
Avax is showing a formation of the inverted cup and handle formation in a daily time frame.
looking for a short opportunity.
Handleandcup
BSL LTD THIS IS POSITIONAL INVESTMENT STOCK. BSL LTD stock broke out at 131.30 with significant volume.stock broke its high which made in feb 2018.Now stock trading above that level.
On weekly chart stock forms Cup and Handle pattern.
Target -243
time Target - 16 months
Stop loss-105
cup and handle may brekout soonthis is for educational purpose
breakout on aily time frame and will be a good long after 640
Breaking out - Cup & Handle | Inverse H&SChart pattern:-
Infy took 8 months to complete the Cup and Handle Formation. If you observe closely, it has formed intermediate Head and Shoulders especially in the Handle portion.
Positive indications :-
- Closed above the resistance - 760 levels.
- RSI and MACD showing good strength.
- Long buildups observed in this counter regularly
Conclusion:-
An increase in volumes is needed for the breakout. If sustains above the current level it can give a good rally up to the 900 levels in coming months.
However, tread with caution as price is sliding on to the upper end of the bollinger band which may cause a minor dip before the rally. 730-740 could be the lower levels to watch out for.
This is a just beginner’s analysis. Please feel free to share your thoughts regarding this. Thanks for reading!
