A Cup and Handle pattern has formed on
MTN
.
The Cup with Handle is a bullish continuation pattern and as its name implies, there are two parts to the pattern: the cup and the handle. The cup forms after an advance and looks like a bowl or rounding bottom. As the cup is completed, a trading range develops on the right-hand side and the handle is formed. A subsequent breakout from the handle's trading range signals a continuation of the prior advance.
I will look to enter long if it breaks above the high of 11 Nov with a optimistic target at the resistance around the 8800 level.
MTN
. The Cup with Handle is a bullish continuation pattern and as its name implies, there are two parts to the pattern: the cup and the handle. The cup forms after an advance and looks like a bowl or rounding bottom. As the cup is completed, a trading range develops on the right-hand side and the handle is formed. A subsequent breakout from the handle's trading range signals a continuation of the prior advance.
I will look to enter long if it breaks above the high of 11 Nov with a optimistic target at the resistance around the 8800 level.
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