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Profit Today from Bullish Cup and Handle Pattern
The Cup with Handle is a relatively new technical pattern, the innovation of IBD founder, William O’Neil. There are many who claim for and against the pattern, but we like it for the potential it offers when grouped with other techniques as part of a more comprehensive analysis. The Cup and Handle is a consolidation pattern that indicates a breakout is imminent.
Let’s walk through the details of the Cup with Handle using a number of charts that currently exhibit the pattern.
To start, take a look at PepsiCo’s (NYSE:PEP) last six months trading. Here we see the first of many…
17Sep2008 | Oxbury Research | Comments Off | ContinuedVolume Volume Volume Part II
In another example, a two to three day climb occurs with a star doji forming at the peak. This indecision coupled with low volume is a good indication that the price will come tumbling down.
Another tip to consider are huge volume spikes, whether in a downtrend or uptrend, can prove to slow down or completely halt the current trend.
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