GEDYH DCA - Cup and Handle Company: Gedik Yatirim Menkul Degerler
Ticker: GEDYH
Exchange: BIST
Sector: Financials
Introduction:
Welcome to our weekly technical analysis, where today we're focusing on Gedik Yatirim Menkul Degerler (GEDYH), listed on the BIST in the Financials sector. The weekly chart showcases a Cup and Handle formation, suggesting a bullish continuation.
Cup and Handle Pattern:
A Cup and Handle pattern is a bullish continuation pattern that marks a period of consolidation followed by a breakout. It's characterized by a "cup" - a round, bowl-like pattern, and a "handle" - a small bearish channel or consolidation, following which a breakout occurs.
Analysis:
GEDYH's chart demonstrates a clear Cup and Handle formation over the course of 833 days. This pattern often indicates a bullish continuation, signaling potential for growth. The price is convincingly above the 200 EMA, further emphasizing the bullish environment and a preference for long setups.
The horizontal resistance is established at 8.23 TRY. If we witness a breakout above this level, we could potentially initiate a long position. The price target, following a successful breakout, is set at 12.78 TRY, representing an estimated gain of approximately 55.83%.
Conclusion:
GEDYH's weekly chart presents an interesting Cup and Handle formation, suggesting a potential bullish continuation. This analysis should be part of a comprehensive market research and risk management strategy.
Please note, this is not financial advice and investing always carries risk.
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Best regards,
Karim Subhieh
