Hi spec. These bowl shaped basing/reversal patterns are often incorrectly called out as a cup and handle on HC.
Yeah, I know the shape is similar, but by definition an actual C&H is a pattern that appears in an uptrend. It is supposed to signify that a pause for consolidation has occurred before resumption of the uptrend.
To confirm the pattern, check that volume also follows the cup shape. Ideally, look for a dip in volume in the middle of the cup, and another dip on the handle.
There's lots of better explanations on the interweb that you can look up, but that's the gist of it.
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