PAG - cup and handle breakout

Discussion in 'Stocks' started by fan27, Sep 17, 2021.

  1. fan27

    fan27

    Here is a good example of a cup and handle breakout I got in yesterday (second candle from right).

    PAG.JPG
     
    vanzandt and TrailerParkTed like this.
  2. CAR, AN, KMX, and PAG, it’s like a Sector trade.
     
    fan27 likes this.
  3. jnbadger

    jnbadger

    This is one of the few classic technical patterns I've found to be consistently reliable in all time frames. Especially when strong relative to the overall market. The same applies to the short side. Bull and bear flags also work. Again, relative strength/weakness is important.
     
    fan27 likes this.
  4. maxinger

    maxinger

    What a fantastic stock. uptrend started in Apr 2020 when it was around 25 (or rather year 2009).

    unfortunately, if you use TA, there is no clear entry signal to enter in mid 2020.
    some traders might have traded based on breakout of resistance line @55 in end 2020.

    It has since been appreciated 4 times.
    Perhaps it is time for it to take a rest.
     
    Last edited: Sep 19, 2021
  5. fan27

    fan27

    Market thinks otherwise...exploding up!

    PAG.PNG
     
    Last edited: Sep 23, 2021
  6. deaddog

    deaddog

    Good call!! Where's your exit?
     
  7. fan27

    fan27

    I am in around 95 and have no predefined exit. However, the high back in May was 92.50 and the low in June was around 72.50 which is 20 points. Assuming we have a measured move from the break out at 92.50 I might be looking to take some profits around 112.50.