It's probably a bit difficult explaining the details here. However, the cup and handle pattern was first described by William J O'Neill and is described in his book entitled "How to Make Money in Stocks" which you can order off the internet - worth the read even if it is a bit repetitive. Pages 116 to 122 describe it in detail. The book explains the trading logic behind it all. Look at an INR chart over the past 12 months to see what I mean. The cup started forming in May 2024 through to end of September, then there was a fall to the base at 20c and the handle formed in November. The question for potential investors is to decide when is the trigger point to buy in. My suggestion (which may be wrong) is when the handle crossed the 3 month SMA. No advice here, just speculation. Make you own decisions regarding trading and be responsible for what you do.
INR Price at posting:
22.0¢ Sentiment: Buy Disclosure: Held
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