I posted about this pattern forming few days back and we seem to have gotten the breakout today from the #cupandhandle #chartpattern. If the market doesn't pull back hard from here (what? ), this one is heading higher and towards the #chartpattern price target.
post from few days ago.
Clear horizontal resistance on this cup and handle pattern against NASDAQ:COHU . A decisive breakout opens the door to test early year's high around $26. Breaking the pattern resistance also breaks the 200 day MA to the upside, adding to the validity of the breakout.
COHU is printing a bullish candle over candle price bar on above average volume, near its 50 DMA, with my momentum/trending oscillators confirming the price move. I am going long COHU on Wednesday using a limit order (GTC-BUY-LMT) @ 25.43. I will have two trailing sell stops (GTC-SELL-STP) @ 23.73 and 22.71 to protect my initial invested capital in case COHU does...
