Update to prior idea
The trade:
The details
The "classic" cup and handle pattern has
at least a 30% increase, followed by no more
than a 30% decline, then finishes the cup
over the span of at least 1 month.
The handle will be a pullback of around 5%
followed by a rally
More positive indicators:
The trade:
- See if it finishes the cup between $81 and $83
- Buy the dip when the handle forms
- Hold on and take profits
The details
The "classic" cup and handle pattern has
at least a 30% increase, followed by no more
than a 30% decline, then finishes the cup
over the span of at least 1 month.
The handle will be a pullback of around 5%
followed by a rally
More positive indicators:
- broke a major down trend
- golden cross on the horizon
- positive earnings were significant last quarter, juxtaposed the prior quarter
- analysts predictions
- rebounded from acquisition of Bread
- very few bag holders as the price increases according to volume shelf
better not bitter