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CUP

GOOG: Inverted Cup with Handle Google is playing out an inverted cup and handle with a conservative price target of $73-76. The price target should be lower, around $71.50, but I shaved a little off because there is some old support from the Jul-Oct 2020 period that should buoy the price, at least for a bit. The daily EMA ribbon flipped bearish in April and since then a precipitous 38% downslide has ensued, the most recent retest of the daily EMA on Oct 24th yielded another crushing rejection. Price should be ready to run again to the downside as it recently slipped through a support/resistance line unrelated to the pattern around $89.40 and has since completed a pullback and been rejected.
NASDAQ:GOOGShort
by TheProfligate
1
CRUDEHello and welcome to this analysis UKOIL formed a Bullish Harmonic Gartley near $83.50 in weekly time frame and reversed from there. In the last few weeks after its 1st round of reversal from the Gartley PRZ it has formed a Cup pattern (rounding bottom) in daily time frame indicating a breakout above $98.50 for $106. While CRUDE OIL at MCX has formed an Inverse Head & Shoulder pattern in daily time frame indicating a breakout above 7700 for 8200 and 8800. The movement in MCX Crude will largely be impacted by US$-INR also, keep in mind that factor also.
TVC:UKOILLong
by Dinesh_C_Nagpal
CBZ - Buy the dipsCBZ broke out of a CUP consolidation last Thurs after it announced earnings beat. The stock has been showing good relative strength to the S&P500, making higher lows while the SPX was making lower low on 13 October. It has also been steadily trading above it's 200 day moving average while the overall market was tradng way below. This stock will likely continue it's uptrend for a while (pullbacks now and then not withstanding). Any near term pullback towards the cup "rimm" (125 - 126.50) would be a good opportunity to buy. At the worst case, a 50% fib retracement of it's recent AB upswing back towards 121 is possible but not likely to be lower. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:CBZLong
by Juliac
AIT - Buy the dipsAIT first gapped strongly of a long term sideway consolidatin on 11 Aug (earnngs beat) but soon gave back all the gains as it started another round of consolidation (this time forming a rounded bottom). It is not uncommon to see "false/failed breakup" especially during periods of uncertainties in overall market. What is important is to note the "relative strength" of the stock in comparison to the index. The cup consolidation was forming with a higher low (on weekly) while S&P500 was making new lows, not to mention that AIT is also well above it's 200day Moving Average, showing good relative strength to the market. AIT finally broke out of a cup consolidation last Friday, probably in anticipation of earnings that is expected out on 3 Nov. There is a chance that the stock could continue to go higher with it's new support @140, or, it could once again attempt another smaller pullback, this time to form the "handle" of the cup that was formed. I would put initial stop loss just below 136. Let's see what happens. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:AITLong
by Juliac
K - Cup break upK is a long term investor's dream as the stock continues to be in an bigger uptrend (despite that it has it's fair share of volatility). For the past 2 months, the stock has gone into a cup consolidation and finally broke up last Friday, probably in anticipation of earnngs that is expected out on 3 Nov (BMO). We do not know if this breakup is for real but should there be any near term pullback below the neckline, then I would be watching for a possible "handle" (higher low) which could make the case for a solid cup and handle formation, Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:KLong
by Juliac
TSLA LONG Cup and Handle Bullish ContinuationOn the daily chart, TSLA has formed a cup and handle beginning about May 5th, the prior reported earnings, The cup portion completed with the recent earning about August 5th while the handle is completed this week. The cup is about $280 in height/depth while the time duration is about 90-95 days in duration. This predicts a bullish continuation from the current market price of about the same value making a target of $1190 before the next earnings in 80 days. Making for a 30 % ROI over the same time. ( The uptrend and downtrend of the cups are supported by relative volume as seen on the indicator.) For a better understanding of the cup and handle pattern, see this excellent explanation and discussion by GMEvsSPY (link by permission)
NASDAQ:TSLALong
by AwesomeAvani
2
CVNA - up trend underwayCVNA built a cup base formation over 2.5 months before breaking up a minor neckline@34 on 5 Aug with very high volume. It has also since broken above another neckline @ 47 and the trend is clearly up now. Any near term retracement should not go below 42 Manage positions with trailing stops. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:CVNALong
by Juliac
SBUX - turned the cornerBroke out of a cup base @ 80 on 18 July, then pulled back and retested this neckline which now affirmed that this resistance has now become support. Time to buy the dips (as long as it does not close below 80). RSI >60 showing good strength. However, be mindful that earnings is expected out tomorrow. Should there be a dip after earnings (but staying >80), it would be a good opportunity to initiate some position. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:SBUXLong
by Juliac
⚠️🍵 #Bitcoin Short-Term "Cup" Could End W/ Short Squeeze $BTCA small #shortsqueeze seems to have already occurred for $BTC, with a false break of the support trend bringing in shorts and either stopping them out or liquidating a low volume of orders. I have not shown the RSI's on here as they are both at mid-levels (50/50 chance of moving up or down), however the may be overheating slightly. This could mean a second "fake-out" break of the upper trend with a larger drop down to the $18K level. However, if this pattern plays out, this could be what reverses the crypto market in the short term. There are confluences with both the measured move and the 1.618 fib retracement level of the most recent, short-term wave down, as well as the expected pivot for a retracement back down to the upper trend, should a confirmed breakout occur. As I already stated, there is still a strong chance for either scenario to play out, so this is something I (personally) will just be tracking for the moment, but not actually trading until one of these two scenarios confirm. How I Might be Trading this: For a "fake-out" and break of the support-trend, I will be looking for a buy/long around $18,700-$18,800. I may consider shorting the break of support, however I don't really know ( yet ) if the risk/reward will be worth it, especially because this range being the bottom price-range seems likely to me, IMO. For a break of upper, medium-term trend, I would be possibly shorting around the target zone (shown with the box), then a buy/long upon retracement and testing of the upper trend. However, where the RSI's are upon testing that level would mostly determine whether I go forward with that trade. *This is all my opinion, based on chart data, and what I'm personally doing with my trades. This is not financial advice.*
COINBASE:BTCUSD
by DoozerInvest