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Just_Jacqs

Standard Chartered Short Idea

Short
STANDARD CHARTERED PLC ORD USD0.50 (LSE:STAN)  
Just_Jacqs  
LSE:STAN   STANDARD CHARTERED PLC ORD USD0.50
Trend Analysis Chart Patterns Inverted Cup and Handle
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trendanalysis chartpattern invertedcupandhandle
STAN on the daily chart has put in a double top.
An inverted cup with handle pattern is forming down towards the 200 EMA.
Once price closes below the 200 EMA I will be looking for a short position. Around £5.40
Measured move (Size of Cup) will be my first profit target at £4.32 which is also an historical support level.
Stop initially at top of handle around £5.96.
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