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The stock then rebounds, testing the previous high resistance levels, after which it falls into a sideways trend. William J. McGraw-Hill Education, Investors Business Daily.
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Technical Analysis Patterns. Technical Analysis Indicators. Key Takeaways A cup and handle is a technical chart pattern that resembles a cup and handle where the cup is in the shape of a "u" and the handle has a slight downward drift. A cup and handle is considered a bullish signal extending an uptrend, and is used to spot opportunities to go long. Technical traders using this indicator should place a stop buy order slightly above the upper trendline of the handle part of the pattern.
What Is a Cup and Handle? Is a Cup and Handle Pattern Bullish? Both groups are now targeted for losses or reduced profits, while short sellers pat themselves on the back for a job well done. The tables turn once again when the decline stalls high in the broad trading range , giving way to narrow sideways action.
Short sellers lose confidence and start to cover , adding upside fuel, while strong-handed longs who survived the latest pullback gain confidence. Relative strength oscillators now flip into new buy cycles, encouraging a third population of longs to take risk. A positive feedback loop sets into motion, with price lifting into resistance, completing the final leg of the pattern and breaking out in a strong uptrend.
It also suggests that rounding bottoms aren't needed as long as other structural elements draw in new buyers while short sellers get discouraged and cover positions. With that in mind, let's look at three cup and handle patterns that don't fit the classic mold.
The subsequent decline ended within two points of the initial public offering IPO price, far exceeding O'Neil's requirement for a shallow cup high in the prior trend. The subsequent recovery wave reached the prior high in , nearly four years after the first print. The stock broke out in October and added 90 points in the following five months. Price carved out a choppy but rounded bottom at that level and returned to the high in June. It then ground sideways in a consolidation pattern first blue box that lasted for more than five weeks, or close to half the time it took for the cup segment to complete.
This handle looks nothing like the ideal pattern but serves the identical purpose, holding close to the prior high, shaking out short sellers and encouraging new longs to enter positions. Note that a deeper handle retracement, rounded or otherwise, lowers the odds for a breakout because the price structure reinforces resistance at the prior high.
The security finally broke out in July , with the uptrend matching the length of the cup in a perfect measured move. This time, the cup prints a V-shape rather than a rounded bottom, with price stalling under the prior high. It ground sideways in a broadening formation second blue box that looks nothing like the classic handle for another three weeks and broke out. The minute cup and handle pattern offers an excellent timing tool when looking to buy a larger-scale trend that doesn't show a low-risk entry price on the daily or weekly chart.
Akamai Technologies, Inc. This rectangular handle held well above the William O'Neil's strict requirements for the cup and handle pattern more than 20 years ago can be now expanded into various market scenarios in multiple time frames. This broader view allows us to shift attention from the classic pattern's standard definition, toward a narrow focus on crowd psychology that underpins its power to predict sizable breakouts.
And to learn more, check out the Technical Analysis course on the Investopedia Academy , which includes videos and interactive content to help you recognize these chart patterns and improve your trading skills. Technical Analysis Basic Education. Trading Strategies. Your Privacy Rights.
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