In my previous post I stated that there is a chance that the pattern can fail and price could retreat to $6 area. The price never retested the lip area and the cup & handle pattern has been invalidated and the price retreated to $6. That's why it's important to observe validation and invalidation points in patterns. So whats next?
$6 is supposed to be a strong support area and a very critical area for the bulls and if held, the stock can bounce back to $6.68 to $7.11 area.
If the price breaks below $6 we can see $5.50 with the support at around $5.75 area.
What will it be?
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Disclaimer: Not investment advice.
If you like this post, follow me and subscribe to my posts for more technical analysis charts (FREE).
$6 is supposed to be a strong support area and a very critical area for the bulls and if held, the stock can bounce back to $6.68 to $7.11 area.
If the price breaks below $6 we can see $5.50 with the support at around $5.75 area.
What will it be?
------------------------------------------
Disclaimer: Not investment advice.
If you like this post, follow me and subscribe to my posts for more technical analysis charts (FREE).
I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
Related publications
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.
I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
Related publications
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.