Perhaps not: Link:...

Perhaps not:

Link: https://www.investopedia.com/terms/c/cupandhandle.asp

As a general rule, cupand handle patterns are bullish price formations. Founder of the term, WilliamO’Neil identified four primary stages of this technical trading pattern. First,approximately one to three months before the “cup” pattern begins, a securitywill reach a new high in an uptrend. Second, the security will retrace,dropping no more than 50% of the previous high creating a rounding bottom.Third, the security will rebound to its previous high, but subsequentlydecline, forming the “handle” part of the formation. Finally, the security breaksout again, surpassing its highs that are equal to the depth of the cup’s lowpoint.