JBLU has been teetering for a while. The cup covers close to a year of price and is more wide than deep.
Possible stop under handle low (not far below current price) Mid cup is 14.25.
Cup and handle patterns were recognized first by William O'Neil is the 80s. Cup and handles are continuation patterns and usually develop in a bullish trend. The cup is formed during a consolidation phase with the left side known as the sell side, then a rounded bottom, and the right side is known as the buy side of the cup. The handle forms after price correction and is usually formed before a full clear break out occurs. Although sometimes price can break out a forget to form a handle (o: but as a rule will come back down eventually to form the handle.
Cups should be U shaped, not V shaped. Handles (retracement) are usually at least 25% of break out level but should not be below mid cup, or 50%. You should see expanding volume on the right side of the cup.
Targets are subjective, but many place the targets using the depth of the cup and 62 to 79% of the cup depth added to long entry level. Targets 2, if the security can make it that far and usually occurs after a pull back are often calculated at 127 to 162 percent of cup depth.
No recommendation
Possible stop under handle low (not far below current price) Mid cup is 14.25.
Cup and handle patterns were recognized first by William O'Neil is the 80s. Cup and handles are continuation patterns and usually develop in a bullish trend. The cup is formed during a consolidation phase with the left side known as the sell side, then a rounded bottom, and the right side is known as the buy side of the cup. The handle forms after price correction and is usually formed before a full clear break out occurs. Although sometimes price can break out a forget to form a handle (o: but as a rule will come back down eventually to form the handle.
Cups should be U shaped, not V shaped. Handles (retracement) are usually at least 25% of break out level but should not be below mid cup, or 50%. You should see expanding volume on the right side of the cup.
Targets are subjective, but many place the targets using the depth of the cup and 62 to 79% of the cup depth added to long entry level. Targets 2, if the security can make it that far and usually occurs after a pull back are often calculated at 127 to 162 percent of cup depth.
No recommendation
Comment:
Time is the essence, but the devil will take his due