Cup & Handle is a "continuation" pattern of a prior trend, which in this case, was "up".
The cup that formed represented a healthy 38% fib retracement of the up swing AB. However the handle is somewhat "deeper" than ideal. Nevertheless, the time appears ripe to bet on the continuation of it's uptrend with a potential C&H target @ 110.
Caveat: Earnings coming up on 20th Oct, could be risky to hold through it!
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
The cup that formed represented a healthy 38% fib retracement of the up swing AB. However the handle is somewhat "deeper" than ideal. Nevertheless, the time appears ripe to bet on the continuation of it's uptrend with a potential C&H target @ 110.
Caveat: Earnings coming up on 20th Oct, could be risky to hold through it!
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
Comment:
broke up the C&H formation :)