It may take a few years but GLD has formed a cup and handle over the last 12+ years. The cup was formed from 2011 to 2020 with the cup top at $185. The cup bottom is at $100 in Dec 2015.
The handle has been formed from 2020 to the present. The target for this cup and handle is:
Cup top + Cup Depth = Price Target
$185 + ($185-$100) = $185 + $85 = $270
The target price is 46% over the current price. This would be a good profit but it may take a few years to get there since the cup and handle took 12+ years to form.
The handle has been formed from 2020 to the present. The target for this cup and handle is:
Cup top + Cup Depth = Price Target
$185 + ($185-$100) = $185 + $85 = $270
The target price is 46% over the current price. This would be a good profit but it may take a few years to get there since the cup and handle took 12+ years to form.
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