BNS breaking out of a cup and handle!
* Great earnings
* Strong up trend
* High 3-month relative strength of 3.06 in the Financial sector
* Breaking out of a cup and handle pattern with 24.59% higher volume of the 15 day average
* Base of the cup is ~21 week with the handle lasting about 4 weeks
* Also created a double bottom during the base
Trade Idea:
* Given the setup, now would be a great time to enter as the price is still very close to the broken resistance.
* If you're looking for a slightly better entry, you can look for buying opportunities between the $66.50 and $67.25 area.
Caution:
* A daily close below $66.48 would negate the idea.
* Strong up trend
* High 3-month relative strength of 3.06 in the Financial sector
* Breaking out of a cup and handle pattern with 24.59% higher volume of the 15 day average
* Base of the cup is ~21 week with the handle lasting about 4 weeks
* Also created a double bottom during the base
Trade Idea:
* Given the setup, now would be a great time to enter as the price is still very close to the broken resistance.
* If you're looking for a slightly better entry, you can look for buying opportunities between the $66.50 and $67.25 area.
Caution:
* A daily close below $66.48 would negate the idea.