Shorabh_Jain

Cup N Handle Breakout

Long
Shorabh_Jain Updated   
NSE:TRENT   TRENT LTD
Trent is breaking out of the cup and handle pattern after a four weeks of consolidation. As a stock forming this pattern tests old highs, it is likely to incur selling pressure from investors who previously bought at those levels; selling pressure is likely to make price consolidate with a tendency toward a downtrend trend for a period of four days to four weeks, before advancing higher. A cup and handle is considered a bullish continuation pattern and is used to identify buying opportunities.
Entry: 4700
Stoploss: 4600
Targets: 5000 / 5050.
Comment:
Mentioned target achieved.
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