This can be a great set up - LAC….. Classic cup & handle

Discussion in 'Technical Analysis' started by Tarzan, Sep 12, 2021.

  1. Tarzan

    Tarzan

    Take a look at LAC, its forming a classic cup and handle. Its not a buy yet as it may consolidate a bit more on the handle. A strong close above 24 is the buy point. A failure can turn into a double top but it looks strong thus far.
    F3223C5A-5B75-4927-A8CE-D6300AB21CE5.jpeg
     
    murray t turtle and vanzandt like this.
  2. maxinger

    maxinger

    sigh .... you have a lot to learn.

    the uptrend started in Apr 2020 and reached a peak of 28.5
    ie it has already been appreciated 14 times in just 1.5 years

    cup and handle thing only works in theory.
    always look at the bigger picture first.
     
  3. fan27

    fan27

    Certainly can't hurt keeping it on your watchlist. Let us know how it plays out!
     
    vanzandt likes this.
  4. Tarzan

    Tarzan

    I certainly will buddy. These are all potential set ups and meant to keep an eye on. Its a lithium company so it has a very high demand product.
     
  5. vanzandt

    vanzandt

    Exactly.
    And one man's cup and handle (that they want to see more consolidation on)...
    ...is another man's inverse head & shoulders.
    :cool:
     
  6. Tarzan

    Tarzan

    As I stated in a previous post, this is why we dont buy until the buy point is confirmed. In this case, the 23.75-24 level ( on a closing basis ).
     
  7. Tarzan

    Tarzan

    Its starting to make a nice move upward and attempt to regain its possitive technical pattern. I preemtively bought some here at 22.98. I have a stop in place and I will buy more if it closes strong.
     
  8. Tarzan

    Tarzan

    Keep an eye on this stock, it can make another big move up tomorrow or thursday.
     
  9. Tarzan

    Tarzan

    What a move it made today !!! LAC was very strong.