- December 16, 2020
- Posted by: virtualxstore
- Category: trading
A lack of healthy pullbacks cause 2 lines that slope up abd converge at the apex.
Support at handle low and mid cup which is 229.10/Cup low is 210.42..
NV and OBV are high/short interest is low..
The security posts a significant high in an uptrend that accelerated between one and three months prior.
The next pullback carves out a rounding bottom no deeper than the of the prior trend. This marks the “cup.”
The next breakout attempt fails at the prior high, yielding a secondary pullback that holds near resistance, grinding out a smaller rounding bottom, which becomes the “handle.”
The security returns to resistance for the second time and breaks out, yielding a measured move target equal to the depth of the cup.
Not a recommendation