AX 3 Month #CupandHandle #ChartPattern

Very appealing setup on this cup and handle 3 month chart pattern.
1. Handle taking the form of rectangle consolidation
2. Handle forming right above 200 MA (bullish)
3. The cup and handle pattern boundary resistance is conversion with a long term weekly down trend line (red line)
A decisive daily close above $26 will confirm the pattern and the breakout and set the stage for a rally up to $30s.

Comment:

setup never triggered so you shouldn't be long yet. That said, setup is still valid and will remain on the list to watch for breakout attempt in the next week or so.

Order cancelled:

not a cup and handle setup anymore. might drop into a rectangle setup. if it does i'll re-post it.