Price broke out of a resistance level, creating a textbook cup and handle breakout. If we use the dept of the cup as a target from the resistance level and most recent structure low as a stop, we have a good trade on our hand with an excellent reward to risk ratio.
Don't forget, this stock has a current dividend yield of about 1.75%.
Good luck :)
Clear change in psychology on the weekly candles. 55.33 showing as major resistance. looking for a move towards the mid-47's. Clear Bearish engulfing last week, a few spinning tops the weeks prior. $CMCSA
perfect pattern....a triangle formation that took long enough to complete...this is the perfect triangle...note how wave E doesn't reach the lower level of the triangle...this was a very strong signal....moreover triangles need to break at around 2/3 of their distance and that has done so....it reached the target....formed -ve divergencies with increasing volumes...
