Hi, yeah it is! The really powerful ones form over a much longer timeframe. If you want to know more than you'll ever need to about cup and handle formations, the goto book is 'How to make money in stocks' by William O'Neill. It's regarded by many as a seminal work for technical traders and it's chock full of historical examples.
Also note, none of these patterns are very predictive and are very much prone to failure, but they can represent market structure and help you position risk into a trade. Losses are a function of gains and all that.
There was a good cup and handle in BOT that broke out half way through 2023. Note you often see the same structures forming on a shorter time frame (AKA 'Fractals').
Bot Chart, page-13894
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Last
37.0¢ |
Change
-0.005(1.33%) |
Mkt cap ! $669.7M | |||
| Open | High | Low | Value | Volume |
| 37.5¢ | 39.0¢ | 37.0¢ | $1.603M | 4.223M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 378157 | 37.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 37.5¢ | 98000 | 5 |
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| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| BOT (ASX) Chart |