Juliac

SHAK - Cup with or without handle?

Long
NYSE:SHAK   SHAKE SHACK INC
SHAK is looking to break the rim of a Cup pattern @ 63.80. A "cup & handle" pattern that formed after a prior uptrend is a trend "continuation" pattern.

However we are seeing only a cup without a handlde at this point. 2 things can happen: this break up can fail and it began to form a "handle" pattern instead. In any case I would long the break of the rim (and if this fail and handle forms, long the breakup again when that happens).

A successful breakup should bring us to the target of at least 78.50-81

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: with a pretty decisive break up, will move the stop to several ticks below the horizontal "rim" support @ 63.80.

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Thanks for sharing!
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