As everyone can see breakout of Cup&Handle formation on chart.
Factors in favour of bulls
1. It is above 21MA.
2. RSI is overbought side or can say it is showing buying strength of the breakout.
3. MACD crossover.
4. Strong vol at breakout.
5. 50MA is above 200MA.
Target should be around $60.
Initial SL at handle’s low.
Revise your SL if market favour you.
This is just a technical analysis, not a advice to jump in.
Trade as per your view.
Thank You. If your idea matched please give it a thumps up.
Factors in favour of bulls
1. It is above 21MA.
2. RSI is overbought side or can say it is showing buying strength of the breakout.
3. MACD crossover.
4. Strong vol at breakout.
5. 50MA is above 200MA.
Target should be around $60.
Initial SL at handle’s low.
Revise your SL if market favour you.
This is just a technical analysis, not a advice to jump in.
Trade as per your view.
Thank You. If your idea matched please give it a thumps up.