JOY caught my eye because of the inverted cup and handle formation - which Friday's gap down confirmed.
Initially I thought this could be a good near-term shorting opportunity because price had broken below $50 and recent support - and the measured move could've made this worth considering for a quick profit.
However, on closer inspection there are a series of...
Until earlier this year RCL had been in consolidation since 1999.
After price finally broke above $58.88 a good trend began to develop but was seriously hindered by the October pullback. This breached the 1999 pivot high and the 200dma but it was not all bad news - a cup and handle chart formation developed on the daily chart suggesting a move to the upside...
LUV has been a good trending stock I have traded until the October pullback earlier this year.
Breaking above the September high (and confirming a cup and handle chart pattern) offered the first opportunity to re-enter this stock. But with some uncertainty still in the markets I passed this one by.
Since then price has continued its bullish rise with a more...
YHOO has not been on my watchlist for many years. I have posted the monthly chart to show why. After reaching it's peak in 2000 ($125) it has struggled to reach its former glory.
But now we can see that a cup and handle has formed. And if price responses with a measured move then we can anticipate a substantial move up (possibly by as much as $30).
On the...
LM reached a high of $140 in 2006 before plummeting to almost $10. Since then we have seen price bottom out (forming a cup and handle on the weekly chart) and begin a bullish wave up. During August and October a double bottom formation occurred - confirmed in November with a break of the neckline.
The weekly double bottom presented itself on the daily chart as a...
ENH is not the best looking chart to trade right now but there's a textbook Cup and Handle forming on the weekly chart. Price just need to break the January high of $58.83 to confirm this chart pattern.
Normally a cup and handle is tradable on the breakout but this one has taken almost a year to form so it may be advisable to wait a little longer - rather than...
H4 charts show the inverted head and shoulders pattern reaching its target. In the process, EURGBP also seems to have made a nice cup formation... Perhaps the declines that might occur could form the handle, potentially giving a bullish outlook to the Euro, in relation to the Pound.
0.78797 will be key to determining the outcome. A break of this support could see...
Chipotle Mexican Grill formed bearish pattern called Cup&Handle with lower high (reversal candle) on 6th of October. Important level of support was at $649 and was broken yesterday with conviction. Combine it with $SPX break down of 200 EMA first time since long time and that is how you get in on the right side.
Risk Management: ENTRY was at $649 break. After 3...
AUDNZD has stayed in a non-volatile consolidation for a really long time. The long tails at the top and bottom of the candles indicate the low volatility of the pair.
Observing the price action, the pair has been consistent in its behavior giving us a lot of clues of its intention along the way. These clues may be hinting towards a classic Cup and Handle formation...
Missed seeing this early on. Price above 200 EMA, break out of the handle and the cup line. Look to buy the dips with a small buy order above today's high if price closes lower. Ideally, expecting to see a retracement to any of the Fib levels. Target, 6.67
MAYBE all the good news like Coinbase expanding to Europe and PayPal accepting Bitcoin soon is going to have a positive effect on the price. In that case MAYBE a cup and handle pattern might form. And MAYBE we hopefully see a breakout by the end of the month.
MAYBE :)
Given the recent price action on BTCUSD I feel a cup and handle pattern is forming. We should see a rise off of the handle into the 530 area. Nice targets for the coming week.
I see a classic cup and handle formation, with some selling when we reached the near term high (profit takers), but not convinced entirely due to the low volume in the pattern creation.
That said, if we break downtrend and clear the previous near term high of 129.80, it could be a quick sail to 133.
With the impending Ex-im bank re-authorization coming up in...
The volume was higher on red days than green days during the first top, and during the second top the volume is low (typical of a cup and handle) and also higher volume on green days than on red days, indicating a bullish chart. This may still turn out to be a double top, so investors should be cautious and watch the support.
After a failed breakout of the primary C & H pattern yesterday and a fade today, $NFLX bounced off $443 late day and continued up again into the close, perhaps anticipating a retest of of that heavy top around $455 later in the week.
What today's price action also put together was a double C & H pattern, that is almost an exact time/scale mirror of the pattern...
