BULL is showing a textbook Cup & Handle formation on the daily chart, signaling a potential bullish breakout if key resistance is cleared. The price is consolidating just under the $18.06 level after a healthy pullback – a classic setup for a continuation move.
Technical Highlights:
Pattern: Cup & Handle with the handle forming on low volume, suggesting sellers are losing momentum.
Key Resistance: $18.06 – a breakout above this level could trigger a strong rally.
Key Supports: $14.47, $13.45, and $12.05.
MACD: Looking very bullish – histogram is recovering after a brief pullback, with potential for a fresh bullish cross.
RSI: Currently hovering just above the moving average support level, waiting for momentum confirmation. This indicates there’s room for upside before reaching overbought territory.
Volume: Decreasing during the handle formation – a healthy sign for breakout setups.
Trade Plan:
Entry: On breakout above $18.06 with volume above the 20-day average.
Why This Setup Stands Out:
This is a high-probability Cup & Handle pattern backed by strong indicator alignment. The MACD is signaling bullish potential, and RSI is positioned perfectly for a momentum push. If buyers step in with volume, BULL could deliver a quick, sharp move higher.
Technical Highlights:
Pattern: Cup & Handle with the handle forming on low volume, suggesting sellers are losing momentum.
Key Resistance: $18.06 – a breakout above this level could trigger a strong rally.
Key Supports: $14.47, $13.45, and $12.05.
MACD: Looking very bullish – histogram is recovering after a brief pullback, with potential for a fresh bullish cross.
RSI: Currently hovering just above the moving average support level, waiting for momentum confirmation. This indicates there’s room for upside before reaching overbought territory.
Volume: Decreasing during the handle formation – a healthy sign for breakout setups.
Trade Plan:
Entry: On breakout above $18.06 with volume above the 20-day average.
- Target 1: $20.50
- Target 2: $23.00
- Stop Loss: Close below $14.47 to protect capital.
Why This Setup Stands Out:
This is a high-probability Cup & Handle pattern backed by strong indicator alignment. The MACD is signaling bullish potential, and RSI is positioned perfectly for a momentum push. If buyers step in with volume, BULL could deliver a quick, sharp move higher.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.