UPST
Cup and Handle Formation:
The chart clearly displays a rounded "cup" pattern from November 2023 to around September 2024. The "handle" appears to have formed in late September and early October 2024.
This formation is a bullish signal, often indicating a continuation of the upward trend if the price breaks out above the handle.
Key Resistance and Support Levels:
There is a resistance level around $54.52, which corresponds to a previous high in December 2023.
Another, more distant resistance level is at $72.19, which is highlighted as a potential target if the price breaks out of the handle formation.
The support zone is marked between $36 and $44, where the price consolidated during the handle formation.
Potential Target:
Based on the height of the "cup," if the price breaks the $54.52 resistance, there is a potential upward move towards the $72.19 level.
The green dashed line indicates the projection of this bullish move, suggesting a strong upward trend could follow the breakout.
Current Situation:
The price is currently trading around $47.02, which is above the handle. A breakout above $54.52 would confirm the bullish move.
However, if the price falls below the support zone, it could invalidate the bullish scenario and lead to a correction.
Suggested TradingView Description:
The Upstart Holdings, Inc. (UPST) chart displays a textbook "Cup and Handle" pattern. A breakout above the $54.52 resistance could signal a continuation of the uptrend with a potential target around $72.19. The current support zone is in the $36 - $44 range, with a bullish breakout confirmation needed for further gains.
The chart clearly displays a rounded "cup" pattern from November 2023 to around September 2024. The "handle" appears to have formed in late September and early October 2024.
This formation is a bullish signal, often indicating a continuation of the upward trend if the price breaks out above the handle.
Key Resistance and Support Levels:
There is a resistance level around $54.52, which corresponds to a previous high in December 2023.
Another, more distant resistance level is at $72.19, which is highlighted as a potential target if the price breaks out of the handle formation.
The support zone is marked between $36 and $44, where the price consolidated during the handle formation.
Potential Target:
Based on the height of the "cup," if the price breaks the $54.52 resistance, there is a potential upward move towards the $72.19 level.
The green dashed line indicates the projection of this bullish move, suggesting a strong upward trend could follow the breakout.
Current Situation:
The price is currently trading around $47.02, which is above the handle. A breakout above $54.52 would confirm the bullish move.
However, if the price falls below the support zone, it could invalidate the bullish scenario and lead to a correction.
Suggested TradingView Description:
The Upstart Holdings, Inc. (UPST) chart displays a textbook "Cup and Handle" pattern. A breakout above the $54.52 resistance could signal a continuation of the uptrend with a potential target around $72.19. The current support zone is in the $36 - $44 range, with a bullish breakout confirmation needed for further gains.
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