Cup and Handle Breakout | Strong Trend Reversal in Play

16 May

PREMEXPLN

Analysis:

This chart showcases a classic "Cup and Handle" breakout pattern — a powerful bullish reversal setup. After a prolonged downtrend, the stock formed a rounded base, retested the neckline zone near ₹500, and broke out with strong momentum and volume.


Trendline Breakout: A long-term descending trendline has been broken, signaling a trend reversal.

Cup Formation: A smooth, rounded bottom formed over several months indicates accumulation and base-building.

Breakout Confirmation: A sharp breakout above the neckline resistance (around ₹500–₹510) with volume confirms the breakout.

Target Levels: Price has already moved toward ₹606 and is now approaching ₹678 — the measured move target from the depth of the cup.

Trade Setup:

Entry: Ideal entry was near breakout of ₹510.

Targets: ₹606 (hit), ₹678 (approaching).

Stop-loss: Below ₹500 or trailing below recent swing lows for momentum trades.

Outlook:
The chart signals a strong reversal and momentum continuation. If ₹678 is broken, further upside potential opens up.

HAPPY TRADING !!

16 May

İşlem aktif

Trade active

19 May

İşlem kapandı: hedefe ulaştı

Target 1 reached stock is up by 15% in a single day

19 May

Not

you can continue hold for further targets, just trail your stolploss above cost i will suggest to put your sl at 525