Chart Pattern:
The chart shows a potential Cup and Handle pattern. This is a bullish pattern that suggests the stock may be poised for further upside. The "cup" is the U-shaped portion of the pattern, while the "handle" is the short pullback that follows.
Recent Price Action:
The stock broke out last week and made a new all-time high, indicating strong buying pressure.
This week, the stock has pulled back, which is a common occurrence after a breakout.
The price is now showing signs of moving up again, suggesting the pullback may be over.
Trading Recommendation:
There are two potential entry points:
Aggressive Entry: Enter now, with a stop-loss (SL) placed below the low of the last candle, at 1123.30. This approach aims to capitalize on the immediate upward momentum.
Conservative Entry: Wait for the stock to break above the supply zone (resistance area), indicated by the green rectangle. This approach provides more confirmation of the bullish breakout.
Rationale: The Cup and Handle pattern, combined with the recent breakout and pullback, suggests that the stock is in a strong uptrend. Entering on the current move up or after a break of the supply zone offers potential for profit.
Disclaimer: This is not financial advice. Do your own research before making any investment decisions.
The chart shows a potential Cup and Handle pattern. This is a bullish pattern that suggests the stock may be poised for further upside. The "cup" is the U-shaped portion of the pattern, while the "handle" is the short pullback that follows.
Recent Price Action:
The stock broke out last week and made a new all-time high, indicating strong buying pressure.
This week, the stock has pulled back, which is a common occurrence after a breakout.
The price is now showing signs of moving up again, suggesting the pullback may be over.
Trading Recommendation:
There are two potential entry points:
Aggressive Entry: Enter now, with a stop-loss (SL) placed below the low of the last candle, at 1123.30. This approach aims to capitalize on the immediate upward momentum.
Conservative Entry: Wait for the stock to break above the supply zone (resistance area), indicated by the green rectangle. This approach provides more confirmation of the bullish breakout.
Rationale: The Cup and Handle pattern, combined with the recent breakout and pullback, suggests that the stock is in a strong uptrend. Entering on the current move up or after a break of the supply zone offers potential for profit.
Disclaimer: This is not financial advice. Do your own research before making any investment decisions.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.