12-week cup with handle pattern forming (to be confirmed)
37% deep cup from prior high
15% handle length (reaching proper depth already)
estimated target +16.5 from handle breakout (base 25.5 to right top of cup 42.0)
I am not a financial advisor, and the chart analysis, including any mention of a cup and handle pattern, is for educational and informational purposes only; individuals should conduct their own research or consult a qualified financial professional before making any investment decisions.
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I would be inclined to declare this a cup and handle formation a failure at this point, but it is one to watch. Focusing on the 4 hourly chart it passed the top right handle fairly convincingly with high volume as a break-out but since has since retreated below the right-hand cup high.
Typically cup and handle patterns have high success rates of fulfilling their target, yet here this is a probable failure.
I am not a financial advisor, and the chart analysis, including any mention of a cup and handle pattern, is for educational and informational purposes only; individuals should conduct their own research or consult a qualified financial professional before making any investment decisions.
Comment
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Slightly off in timing of the handle but its come through