TQQQ on a weekly chart in 2021 ascended into a falling wedge. As part of the falling wedge,
it started the downside initial part of a cup and handle pattern. The reversal occurred 11
months ago with the upside completion of the cup back to 57.5 In the typical cup and handle,
the handle then forms in a 50% retracement of the height of the cup. the cup height...
stock took 4 year time complete cup pattern and only 6 month handle build at level of 95 cu and handle pattern breakout completed with high volume.
stock treading PE below the industrial PE.
completing cup and handle at level 95 with runaway gap developed this also indicting stock can go upside
stock debt to equity is high 1.36 debt is high.
no recommendation...
Despite the market performing sluggish and out of sync with other indexes viz Nifty, Bank Nifty & Fin Nifty, this classical Cup & Handle pattern formed which subtly broke out giving an upmove for the trend continuation. Patterns are your best bet when nothing else gives confirmation!
Last post was hidden unfortunately... but I caught the cup and handle forming at the top of the handle and it's doing exactly what it should right now!
- Let's make these pips!
