Hey folks,
Just a quick analysis of
TSLA on the daily chart. Compared to my last analysis, price has fallen a bit since, as a new flag (handle) continues to form following a cup pattern.
- Cup and Handle pattern forming. The handle would also count as a bull flag. This is known as
a cup and handle reversal pattern, after a downtrend. So yes, it is possible for a stock to
reverse its trend through the formation of a cup and handle reversal pattern (as you can see
in the chart).
- Major resistance at $366 which marks the peak of the flag (handle) pattern. This would have
to be broken in order for the cup and handle to be valid.
- Volume has also been decreasing during the formation of this pattern: this is typical amongst
Cup and Handle patterns, and generally a positive sign.
Note: Not financial advice.
Just a quick analysis of
TSLA on the daily chart. Compared to my last analysis, price has fallen a bit since, as a new flag (handle) continues to form following a cup pattern.- Cup and Handle pattern forming. The handle would also count as a bull flag. This is known as
a cup and handle reversal pattern, after a downtrend. So yes, it is possible for a stock to
reverse its trend through the formation of a cup and handle reversal pattern (as you can see
in the chart).
- Major resistance at $366 which marks the peak of the flag (handle) pattern. This would have
to be broken in order for the cup and handle to be valid.
- Volume has also been decreasing during the formation of this pattern: this is typical amongst
Cup and Handle patterns, and generally a positive sign.
Note: Not financial advice.
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.