SHAK is looking to break the rim of a Cup pattern @ 63.80. A "cup & handle" pattern that formed after a prior uptrend is a trend "continuation" pattern.
However we are seeing only a cup without a handlde at this point. 2 things can happen: this break up can fail and it began to form a "handle" pattern instead. In any case I would long the break of the rim (and if this fail and handle forms, long the breakup again when that happens).
A successful breakup should bring us to the target of at least 78.50-81
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
However we are seeing only a cup without a handlde at this point. 2 things can happen: this break up can fail and it began to form a "handle" pattern instead. In any case I would long the break of the rim (and if this fail and handle forms, long the breakup again when that happens).
A successful breakup should bring us to the target of at least 78.50-81
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
Nota
with a pretty decisive break up, will move the stop to several ticks below the horizontal "rim" support @ 63.80.
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.