REA - Bullish Cup and Handle forming

Dec 31, 2019

The Cup and handle pattern has been pretty reliable with REA over the years and it looks like another bullish high probabilty opportunity is forming again. Conservative entry would be a bullish candle breakout above the top of cup or if you want to get in on the back of REA'S bullish fundamentals, todays price of approx $103 looks ideal. Ideally S/L approx $98. Minimum target shown in graph at approx $116.50.

Feb 7, 2020

Trade closed: target reached

I have to say todays earnings looked pretty ordinary. Especially for the p/e. And just like that the price jumps 3 +% and hits target! That massive candle looks very bullish. The bizareness of the markets never ceases to amaze. I guess thats why they say never mix fundamnetals with technicals. At this point Happy to jump out and look for a another high probability trade. Taking the profits!!!!