I'm tracking a weekly chart that shows signs of a potential cup and handle pattern. While the structure is broadly intact, it's not a textbook formation. Recent market action has been noisy, and that’s reflected in the price and volume behavior.
The cup is well-formed: a rounded bottom following a downtrend and a steady climb back to previous highs.
The handle is messier than ideal – high volume and increased volatility suggest a false breakout attempt, likely driven by early positioning, profit taking, and possibly broader geopolitical or macro-driven factors.
This kind of “imperfect” handle isn't uncommon in real markets but does require more caution.
Breakout zone: Around ~6
Cup bottom: ~2.75
Depth: 6 – 2.75 = 3.25
Measured move target: ~9.25
This is a potential target, not a certainty — confirmation is key.
The cup is well-formed: a rounded bottom following a downtrend and a steady climb back to previous highs.
The handle is messier than ideal – high volume and increased volatility suggest a false breakout attempt, likely driven by early positioning, profit taking, and possibly broader geopolitical or macro-driven factors.
This kind of “imperfect” handle isn't uncommon in real markets but does require more caution.
Breakout zone: Around ~6
Cup bottom: ~2.75
Depth: 6 – 2.75 = 3.25
Measured move target: ~9.25
This is a potential target, not a certainty — confirmation is key.
Trade active
Breakout confirmed
Daily Cup cleared $6.49, now trading at $7.06. Price is testing the 1.618 Fibonacci extension around $7.69 - a key level to watch.
Fibonacci targets ahead:
1.618 ext: ~$7.69 (current resistance)
2.618 ext: ~$9.32
3.618 ext: ~$10.95
Clean multi-timeframe breakout with good follow-through. Recent candles showing some upper wicks suggest profit-taking at current levels, but overall structure remains bullish.
Key support: $6.49 breakout level must hold on any pullbacks.
Next major target: $9.32 zone if price clears the $7.69 Fibonacci resistance.
Note
Getting backstabbed here by a desperate offering with a 28% discount at $5 compared to yesterdays close a 6.95businesswire.com/news/home/20250709472784/en/Vertical-Aerospace-Announces-Pricing-of-Underwritten-Public-Offering
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.