AAPL: "Engulfing" Cup and Handle
Both are daily charts of Apple. On the left, a cup and handle formation has recently resolved within the larger trading range. First there was a test of upper resistance (I call it a kiss hello, probably not the first to call it that), then a small pullback (the handle), then a breakout. Old resistance became new support, and when price came back, it said thanks a lot and gave support a kiss goodbye.
On the right, the same type of behavior is evident. In a sort of, "engulfing manner," a new cup and handle is happening around the first one. This time it is more interesting because a break above would take us to a new all-time-high.
On the right, the same type of behavior is evident. In a sort of, "engulfing manner," a new cup and handle is happening around the first one. This time it is more interesting because a break above would take us to a new all-time-high.
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