Wednesday, June 2, 2010

Stock Chart Analysis: BPC on a possible Cup and Handle Pattern

Figure 1. BPC daily Chart

Figure 2: BPC on Weekly Chart
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5 comments:

  1. AnonymousJune 6, 2010 at 10:34 AM

    just want to ask how far will it go if forms a cup and handle

    ReplyDelete
  2. AnonymousJune 6, 2010 at 4:13 PM

    I'm sorry to disagree with you epgarias,
    the weekly chart above is not a cup and handle.

    Cup and handles are only continuation patterns, traders should look up the bigger picture to see where the pattern is coming from.
    Ore chart above is a perfect example of a cup and handle pattern. also cup rims are equal to, or near the same price level.

    ReplyDelete
  3. epgariasJune 6, 2010 at 5:14 PM

    I don't think cup and handle are ONLY for continuation patterns and I don't also think that it MUST have a cup rims that are equal to, or near the same price level. But still I'm glad you ask such questions:

    Anyway, just check out some of the samples of a cup and handle chart patterns from this links this may answer your questions:
    1. http://www.tradejuice.com/stock-market/stock-chart-patterns-AI.htm
    2. http://stocks.investopedia.com/stock-analysis/cotd/MELI20100407.aspx

    For computing the target price check this site:
    http://stockcharts.com/help/doku.php?id=chart_school:chart_analysis:chart_patterns:cup_with_handle_cont

    ReplyDelete
  4. AnonymousJune 6, 2010 at 10:23 PM

    thanks... What do you think is the entry for Bpc?

    ReplyDelete
  5. epgariasJune 6, 2010 at 11:02 PM

    3.60 is a good entry price. But still don't forget to set your stop loss as part of your risk management.

    ReplyDelete

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