$MASI Cup with Handle Formation?NASDAQ:MASI This one has been in a longer-term downtrend which broke out in March then failed. When looking at the weekly chart, it looks to me that this latest formation can be classified as a Cup w/Handle.
In addition to the Cup w/Handle formation it has come down, tested and bounced off the 40 Week MA (White line) which seems to have acted as support.
I had an alert on the higher downtrend line as a trigger for a breakout of the Cup w/ Handle formation. It triggered today so I have opened a ½ size position with a stop on a close below the 40 Week MA. Which is a 4% stop. Now I can only manage risk, but I will look to add on follow through. All TBD.
The chart I am using is the All-In-One LevelUp tool available here on TV. Check it out.
Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.