Pattern Breakout Watch: CHCC Aims for New Highs

5 Ogo

CHCC on the daily timeframe is showcasing a well-formed Cup and Handle pattern, a classic bullish continuation setup that signals accumulation before a breakout. The price has completed the rounded base of the cup and is currently approaching the neckline resistance near PKR 305. A confirmed breakout above this level could trigger a strong upward move, with the projected target around PKR 389, representing a potential upside of over 28%. Volume buildup during the formation adds further conviction to the pattern’s reliability. If the handle forms with low volume and holds above support, it would present an ideal breakout scenario with bullish momentum expected to continue.

21 Ogo

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Cup & Handle Breakout with Retest Opportunity in CHCC

The chart of CHCC is displaying a classic Cup & Handle formation, where price has recently broken above its previous top near 319–321 and is now pulling back for a retest of that breakout level to establish it as new support. A successful retest and confirmation of support could trigger a fresh bullish leg, aligning with the cup & handle projection target of 389. For a prudent strategy, partial profit taking can be considered around the prior resistance at 352, while a sustained breakout above this level would open room for further upside towards the ultimate target of 389. To manage risk, a stop loss can be placed below 294.80, ensuring protection if the breakout fails.