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Possible Cup and Handle Pattern?
The Cup is usually U-shape and the handle is basically the retracement from the prior top to about 1/3rd of the vertical height of the cup and looks quite similar to a bowl. This pattern simply shows a period of consolidation followed by a breakout.
Cup and Handle patterns can be seen both as bullish continuation or reversal patterns.
A continuation pattern is formed when there is a prior uptrend, followed by a consolidation in the form of Cup and Handle pattern and then the uptrend continues post-breakout.
Cup and Handle patterns can be seen both as bullish continuation or reversal patterns.
A continuation pattern is formed when there is a prior uptrend, followed by a consolidation in the form of Cup and Handle pattern and then the uptrend continues post-breakout.
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