lauralea

Cup and Handle Earnings 4-29 AMC

NASDAQ:KLAC   KLA Corporation
Earnings are 4-29 AMC (after market close)

KLAC has experienced a throwback, which brought it back below long entry level.

I have owned this before and it was a roller coaster ride for sure! Just an FYI. KLAC can move a lot in one day, in both directions.

There was a hanging man during the throwback. A hanging man is bearish and they look like a hammer , bottom wick but no top wick on the candle. Hammers are found at the bottom of a downtrend whereas hanging men are found at the top. There is a bearish engulfing candle today.

No recommendation.

Possible stop under handle low or mid cup. Cup depth is 68.97. If I enter, I will wait until closer to handle low (o: The handle low is almost even with midcup. If the handle reaches below mid cup, which is did by 70 cents, some consider the cup pattern invalidated. I feel that is a bit too close to invalidate the pattern, but if it goes any lower than 317, I would consider it. Patterns fail. Right now there would be a lot of support there.
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