Cap & Handel Pattern Breakout
Updated
On the weekly time frame the stock has decisively broken out eight months "Cup & Handle" breakout at 600 levels on a closing basis. This breakout is accompanied with huge volumes indicating increased participation.
On the daily and the weekly time frame, the stock is in strong up trend forming a series of higher tops and bottoms.
The stock is well placed above 20,50,100, and 200 day SMA's which reconfirms bullish trend.
The daily and weekly Strength indicator RSI is in bullish mode song with positive crossover which supports rising strength in near term.
The above analysis indicate an upside of 695-725 levels.
Holding time 2-4 weeks
On the daily and the weekly time frame, the stock is in strong up trend forming a series of higher tops and bottoms.
The stock is well placed above 20,50,100, and 200 day SMA's which reconfirms bullish trend.
The daily and weekly Strength indicator RSI is in bullish mode song with positive crossover which supports rising strength in near term.
The above analysis indicate an upside of 695-725 levels.
Holding time 2-4 weeks
Note
HIGH 693
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