Cupandhandlebreakout
$GXY possibly confirming a Cup & Handle pattern on the weekly.Looking in depth at $GXY we can see this week's candle is potentially confirming a bullish move upwards as it shows signs of a successful Cup & Handle pattern. Tomorrow will tell.
Other indicators to consider are the cross of the MACD. If the cross occurs on Friday then I'm 99% sure this will be a great long. However if not, it's up in the air whether next week will be red or green. Either way, I'm still bullish for the year.
Brad's Confidence Meter: ★★★★☆
Buy order: $3.80
Stop loss: $3.41 (-10.26%)
Take profit : $5.60 (+47.37%)
Risk to Reward Ratio: 4.62
Not financial advice. Be safe and good luck!
Dabur India limitedCup and Handle pattern in Dabur India limited.
A cup and handle price pattern on a security's price chart is a technical indicator that resembles a cup with a handle, where the cup is in the shape of a "u" and the handle has a slight downward drift. The cup and handle is considered a bullish signal, with the right-hand side of the pattern typically experiencing lower trading volume. The pattern's formation may be as short as seven weeks or as long as 65 weeks. - "Investopedia"
Mp MaterialsIn this chart you can clearly see the trading range MP is oscillating in. Once we are breaking above the Fib 0.5 with a closed daily candle above it's a confirmation of the completion of the C&H and a clear break out. And from there I would scale in more for a long position. If earnings are okay, we stay within the pink line and oscillate as this is the new channel.
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CDEV: Cup and Handle Breakout ConfirmedNASDAQ:CDEV
This is not financial advice. Just a swing at charting and ideas.
On 4/28, we see the right of the cup. The handle leveled off over the next seven days. Following CDEV's after-market earnings report, on 5/5 the volume spiked and there was a $0.61 gain from previous close price to a high of $4.86.
Price target is $5.50.
If the bullish trend continues we could see another cup formation. Considering the spread of the prior advance (Nov 2020-Mar 2021), the pullback and subsequent rise of the new cup; these are healthy indicators priming CDEV to retest the previous high of $6.24.
$ZIL Zilliqa 3 Years ago....Imagine this: 3 years ago on 5/10/2018 investors bought (ZIL) at the previous all time high of 23.55 cents. On 3/9/2020 Zilliqa (ZIL) hit an all time low of .0021 cents! Zilliqa (ZIL) is currently in price discovery searching for a new all time high. This is not financial advice.
DASH/BTC Cup & Handle Breakout!About a month ago, I mentioned how DASH had broken out of a descending wedge for DASH/BTC that had been forming since around the beginning of 2020. Now it looks as though a cup and handle pattern has been forming since Valentine's Day 2021 (how lovely) with the handle formation completed (nicely outside of the wedge) and an additional retracement back to the point of the breakout now completing as well.
If the cup and handle pattern continues and does not break further below into the handle, there is a potential upside to near the length of the cup (dashed green line) based on the rules of the cup & handle pattern.
However, as no pattern is guaranteed, there is of course the possibility that the trend could head further below the breakout, but at least so far the pattern looks fairly consistent with the appearance of a cup and handle pattern with potential upward in my opinion based on a continuation of the aforementioned descending wedge breakout as well.
As always, this is solely my opinion and should not be taken as financial advice. But please like or comment if you agree or see anything differently.