It looks much like a cup and handle, so what is the measured move Target price if the pattern completes? and normally it can take a few days or weeks to complete in your opinion?
amantilla
⋅
@Ray2103, hi , at this moment for me its a CUP , because the handle should go down , not up, handles that go up are prone to fail in the breakout .
in my type of investing there is a target of 20% profit , because most stocks make bases and move around 20-25% before make another consolidation base , 5-8% stop loss. To take the trade the breakout should have an increase in volume of around 40% or more than the average volume in the stock of 50 days because it reflects intitutional buying. Its normal to have corrections in the price that goes to the buy point , but its less common that they go under this buy point by 5-6% because it is now a resistence where institutions buy the stock.
If i see a lot of volume coming that day i enter in the stock a little bit earlier , around 190.40
amantilla
⋅
we dont know how many time it will take to complete the target if it does, ( because it not allways hit the target but we have more probability buying at that point in a bull market ) , the market will say the last word.