Juliac

VIAC - Cup & Handle? (of sorts)

Long
NASDAQ:PARA   Paramount Global
VIAC hit a high of 28.50 on 8th June before languishing in a severe and protracted pullback.

On 30 July it finally rose above 25.60 after forming what resembled a mini cup & handle ("resembled" as it did not fit all the criteria for a C&H, namely, a prior uptrend). However, it now appears to be forming the "real" C&H (at least the cup, we do not know yet if a handle will form) with the rim top @ 28.50.

Eventually should it rise above 28.50 (with or without a "handle" formation), then I am expecting it to hit a target of at least 35 (C&H target).
Let's see if it plays out!

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.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.