The Cup and handle pattern has been pretty reliable with REA over the years and it looks like another bullish high probabilty opportunity is forming again. Conservative entry would be a bullish candle breakout above the top of cup or if you want to get in on the back of REA'S bullish fundamentals, todays price of approx $103 looks ideal. Ideally S/L approx $98. Minimum target shown in graph at approx $116.50.
Trade closed: target reached:
I have to say todays earnings looked pretty ordinary. Especially for the p/e. And just like that the price jumps 3 +% and hits target! That massive candle looks very bullish. The bizareness of the markets never ceases to amaze. I guess thats why they say never mix fundamnetals with technicals. At this point Happy to jump out and look for a another high probability trade. Taking the profits!!!!