Mankind Pharma Ltd - Cup with handle pattern formation
The cup with handle pattern is a bullish chart formation resembling a cup with a slight consolidation (handle) on the right. A trading strategy involves entering a position when the price breaks above the resistance level at the top of the cup, ideally after confirming bullish momentum.
Mankind Pharma is forming a cup with handle pattern on the hourly timeframe, signaling potential bullish movement. The handle has formed on a flat base, reinforcing the bullish setup. Where the prior resistance become support (Support-Resistance Flip).
Chart Structure: Price is creating higher tops and higher bottoms, indicating a strong uptrend where as RSI is trending higher and remains above 50, confirming positive momentum.
Trade execution planned above 2835,anticipated target is above 3000, suggesting substantial upside potential if the breakout is confirmed. SL would be the last higher swing low.
Mankind Pharma is forming a cup with handle pattern on the hourly timeframe, signaling potential bullish movement. The handle has formed on a flat base, reinforcing the bullish setup. Where the prior resistance become support (Support-Resistance Flip).
Chart Structure: Price is creating higher tops and higher bottoms, indicating a strong uptrend where as RSI is trending higher and remains above 50, confirming positive momentum.
Trade execution planned above 2835,anticipated target is above 3000, suggesting substantial upside potential if the breakout is confirmed. SL would be the last higher swing low.
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