Discussion in 'Stocks' started by fan27, Sep 17, 2021.
Here is a good example of a cup and handle breakout I got in yesterday (second candle from right).
CAR, AN, KMX, and PAG, it’s like a Sector trade.
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.
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.
Market thinks otherwise...exploding up!
Good call!! Where's your exit?
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.
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