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Cupandhandlepattern

Acuity Brands Cup and Handle Pattern Acuity Brands, Inc (AYI) is an industrial technology company. They provide lighting and building management solutions in North America and internationally. The company was incorporated in 2001 and is headquartered in Atlanta, Georgia. AYI is a component of the S&P 400 Mid Cap Index Market Cap: 5.968B Beta (5Y Monthly): 1.54 PE Ratio (TTM): 16.75 Average Volume: 277,357 (1) Cup and Handle (Bull Market Stats): Overall performance rank (1 is best): 3 out of 39 Breakeven failure rate: 5% Average rise: 54% Throwback rate: 62% Percentage meeting price target: The above numbers are based on 913 perfect trades. (2) AYI Daily Volatility (Standard deviation YTD): 2.20% Annualized Volatility (Standard Deviation YTD): 34.24% S&P 400 Mid Cap Index Daily Volatility (Standard deviation YTD): 1.59% Annualized Volatility (Standard Deviation YTD): 24.76% (The above were calculated using historical data) The data above shows the daily and annualized volatility for AYI and the index it is a component of. As you can see AYI has a higher daily and annualized volatility. This can be good or bad. Depending on the way the stock goes and your position. For this pattern, I would say this is a good thing - the pattern requires volatility to breakout and reach the price target. AYI has formed a cup and handle chart pattern. This pattern, as the name suggests, looks like the top ridge of a cup and the handle. The pattern forms as follows: price rise - left peak forms - price goes down at an angle and forms a trough - price rises again at an angle to form a peak. Sometimes, as in this case, the right peak may form a flag/consolidation pattern as well. The blue line on the chart above represents a line of support for the stock. The red box represents what could possibly be a previous cup and handle position. However, in this pattern and the one on the right, I'm not that convinced of their authenticity. The price rise before the pattern formations is not that convincing. I would ideally like to see an upwards trend for at least 3 months. The price has been in a downward trend YTD and then moving horizontally for nearly six months. However, this horizontal movement may be useful - if there is a upward breakout, the momentum could be strong. Cup and handle patterns are ranked 3/34 patterns - meaning when done right, the pattern can bring good performance. The Breakeven failure rate is 5% which is low and hence a good signal. The Throwback rate is 62% which may be a concern. Especially if the pattern is not that strong - as in this case. Totaling this all together, I would give this pattern a rating is 3/5. The ROI may not seem sufficient to justify a long position. Henceforth this is a riskier position. The main issues are: A previous cup and handle position formed before that did not breakout Lack of a strong upwards trend before the pattern formation The pattern duration is around 10 weeks. This is within the range of ideal 7 - 65 weeks, albeit at the lower end of the spectrum. The price target is the difference between the right peak and trough * the percentage meeting price above: $204.54 From the current price that represents a 9.13% ROI. Macroeconomic considerations: Interest rates are rising and so will inflation. We are most likely already in a recession. I would not be concerned about this for this trading idea. This will most likely be a short-term trade for a couple of weeks once the stock breaks out with a close above the trendline. Fundamental analysis: Since this will be a short-term trade, I did not find the need to include any further research- the next earnings is not until January so no concerns. References: 1 finance.yahoo.com/quote/AYI ​2 thepatternsite.com/cup.html
NYSE:AYILong
by BlackbearTrader
Is $BJ ready to push higher?Notes: * Strong up trend on the higher time frames * Great earnings track record * Basing for the past ~3 months * Forming a cup and handle with the base ~14% deep and a flat handle * Formed a bullish engulfing candle a couple of days ago * Now it's flashing an early entry along with a pocket pivot Technicals: Sector: Consumer Defensive - Discount Stores Relative Strength vs. Sector: 4.8 Relative Strength vs. SP500: 2.23 U/D Ratio: 1.03 Base Depth: 13.97% Distance from breakout buy point: -1.6% Volume 15.02% above its 15 day avg. Trade idea: * You can enter now as the price is close to its 50 EMA * It's also breaking above the resistance area of ~77.5 with volume * If you're looking for a better entry you may be able to catch it around $76.1 as that should hold as support going forward.
NYSE:BJLong
by HaseebKhan_90
BNBUSDT | Wave Projection | Short Term Retrace - Bull Look +60%Price action and chart pattern trading: > A possible CUP & HANDLE pattern with a short term 2-wave retracement to the next strong support area of confluence where SMA20 X SMA200 golden crossed and volume profile point of control key level. > Entry @ pullback retracement SMA200 zone and lower uptrend channel support zone. > Target @ TP1 Handle 1.0 extension + 30-40% upside and TP2 Cup 1.618 ext. zone +50-60% > Stop @ B-wave position -10-15% downside > RSI indicator: OB + bearish signal about to cross MA line
Long
by dukeposh
Is $CPRX ready to break out of its cup and handle?Notes: * Strong up trend * Okay earnings track record * Basing for the past ~8 weeks * Pulled back to its 10 week line and managed to hold it as support creating a cup and handle pattern * Printed a pocket pivot near its 50 day line offering an early entry and indicating institutional demand Technicals: Sector: Healthcare - Biotechnology Relative Strength vs. Sector: 23.86 Relative Strength vs. SP500: 4.28 U/D Ratio: 1.21 Base Depth: 45.07% Distance from breakout buy point: -18.82% Volume 14.75% above its 15 day avg. Trade Idea: * You can enter now as the price is rising with higher than average volume off of its 50 EMA * Another reason for entering would be that it printed a pocket pivot * If you want to play it a bit safe you can wait for a break out of the indicated channel and the 14.3 area since that may serve as immediate resistance
NASDAQ:CPRXLong
by HaseebKhan_90
CAKEUSDT | Wave Projection | Bull Look SMA20 GoldenX 200 TP+50%Price action and chart pattern trading: > The leading diagonal wave with a possible bullish explosive move +50% based on CUP & HANDLE pattern > The current ENTRY ZONE is considered a strong support at the channel with SMA 20 / 50 golden cross SMA200 > Target CUP & Handle @ 1.618 Fibonacci extension from A diagonal uptrend wave $7.000++ zone. > RSI bullish above 50 and MA line, MACD above base and signal line > Watch out for dump & pump move Always trade with affordable risk and respect your stoploss, nothing is 100%!
Long
by dukeposh
Praj Industries Ltd - Cup & Handle + Ascending Triangle Breakout📊 Script: PRAJIND (PRAJ INDUSTRIES LIMITED) 📊 Nifty50 Stock: NO 📊 Sectoral Index: NIFTY500 / NIFTY INFRASTRUCTURE / NIFTY SMALLCAP 📊 Sector: Industrials Capital Goods 📊 Industry: Engineering & Construction products Time-Frame : Daily - Ascending Triangle Breakout Key highlights: 💡⚡ 📈 Script is trading at upper band of Bollinger Bands (BB) and giving breakout of it. 📈 MACD is giving crossover . 📈 Double Moving Averages also giving crossover . 📈 Volume is increasing along with price which is volume breakout. 📈 Script is giving breakout of Cup & Handle + Ascending Triangle. 📈 Current RSI is around 64. 📈 One can go for Swing Trade. ⏱️ C.M.P 📑💰- 443 🟢 Target 🎯🏆 - 500 ⚠️ Stoploss ☠️🚫 - 414 ⚠️ Important: Always maintain your Risk & Reward Ratio. ⚠️ Purely technical based pick. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:PRAJINDLong
by radha_23
6
KPIT - Ascending Triangle + Cup & Handle Breakout📊 Script: KPIT (KPIT TECHNOLOGIES LIMITED) 📊 Nifty50 Stock: NO 📊 Sectoral Index: NIFTY500 📊 Sector: Information Technology 📊 Industry: Computers - Software & Consulting Cup & Handle Breakout Key highlights: 💡⚡ 📈 Script is trading at upper band of Bollinger Bands (BB) and giving breakout of it. 📈 MACD is giving crossover. 📈 Double Moving Averages is also giving crossover. 📈 Volume is increasing along with price. 📈 Script is giving Trendline + Ascending Triangle + Cup & Handle Breakout as shown in chart. 📈 Current RSI is around 67. 📈 One can go for Swing Trade. ⏱️ C.M.P 📑💰- 605 🟢 Target 🎯🏆 - 684 ⚠️ Stoploss ☠️🚫 - 574 ⚠️ Disclaimer: DowJones & NASDAQ futures down more than 1% due to US. AUG INFLATION AT 8.3 % V 8.1 % EST. Take position according to your comfort level and conviction. ⚠️ Important: Always maintain your Risk & Reward Ratio. ✅Like and follow to never miss a new idea!✅ Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes. Eat🍜 Sleep😴 TradingView📈 Repeat 🔁 Happy learning with trading. Cheers!🥂
NSE:KPITTECHLong
by radha_23
4
Large Cap Tech Earnings Disappoint (Short Position Active)Yesterday, we finished with a nice green Bullish candle ahead of Google and Microsoft's earnings. Shortly afer the bell, Google fell about 6% and Microsoft around 2%. That's not catastrophic in any way, but it will be difficult for the markets to continue to rally without their participation. And that was only two out of the five large tech companies that make up about 20% of the S&P. So what could happen today? I'd be looking for an inside candle, Doji like candle bouncing in between 3865ish-3835ish and tomorrow will tell us more the direction of the market. Now, don't get me wrong, this upward trend we have has been improving, with now only 66% of stocks below their 50 day and 34% above the 20 day. But this upward trend is looking more to be like an ABC correction to me. A few weeks ago I posted an idea that we were forming a cup and handle pattern and if you take a closer look, it's somewhat playing out. It's not the most attractive cup and handle, but it's there. If you think about it, we've had about an 18% downward move since about August, so we were do for some type of correction. These are characteristics of bear markets. And even if we break out above the 50 day, I'm not immediately changing Bullish. Counter Trend Break outs are not ideal. Especially when we still have a declining 50 day. Overall, tomorrow is going to be more of a critical day after we hear from the other three tech giants. If this cup and handle pattern plays out, I could see some significant downside in the coming weeks. I did enter a short position yesterday. Nothing too aggressive, as I want to see how these next couple days play out. If this decides to roll over, than I'll continue to add to my short position. Position size accordingly, risk manage, be patient and stay disciplined. Happy Trading!
SP:SPXShort
by MMOTA_
Is $PI ready to break out of its ~10 month cup and handle?Notes: * Strong up trend on higher time frames * Excellent earnings track record * Basing for the past ~10 months * Forming a cup and handle pattern while basing * Printed a pocket pivot signal, indicating institutional buying * Volume on the daily and weekly time frame seems to be increasing as well * Strong resistance around the $90 area Technicals: Sector: Technology - Communication Equipment Relative Strength vs. Sector: 6.75 Relative Strength vs. SP500: 17.9 U/D Ratio: 1.09 Base Depth: 137.32% Distance from breakout buy point: -10.12% Volume 79.85% above its 15 day avg. Trade Idea: * You can enter now based on the pocket pivot signal * Or given the market conditions you may wait for a break out of the handle as indicated or even a break above the $90 area
NASDAQ:PILong
by HaseebKhan_90
1
ALKYL AMINES, TRADING AT MA100!!1. MA 100 is giving a very good support for alkyl. 2. one thing to note is it is forming a cup and a handle pattern, with the neckline drawn. 3. the stock has not given any returns, from past 6 months. 4. on 1st of august, the stock broke the trend line, to give a breakout, but it was not much effective, and from that period the stock is in a range. 5. have a look on MACD, there's no big bars as much RESISTANCE LEVELS ARE DRAWN, ONE CAN AIM FOR THE STOCK TO GO UPSIDE ALL OVER TILL 4382
NSE:ALKYLAMINELong
by raghavchoudhary2016