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Tuesday, March 19, 2024

Weekly Charts + The Reverse Cup & Handle Chart Pattern

Courtesy of Market Tamer

Weekly Charts

Dow Jones


S&P 500


NASDAQ


 

The Reverse Cup & Handle Chart Pattern

The inverse of a Cup & Handle Chart Pattern.

 

The stock bounces off of a support level and moves higher on unremarkable volume.

 

A “Rounded Top” forms and then subsequently moves lower on increasing volume producing “The Cup”.

 

The pattern is completed when a Bear Flag forms producing the handle.

 

– The breakdown occurs when the stock breaks the low of the handle on increasing volume.

 

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