Chart Patterns & Algorithmic Trader (Aug. 24, '20) (47)
LAKE Cup & Handle Pattern
s
Lakeland Indus (LAKE) is forming a Cup and Handle pattern on its daily chart and
trading below the breakout level of $28.10. C&H patterns are valid only when price
closes above the breakout level. A long trade is entered above the breakout level with
a stop placed below the lowest low of the mid cup $20.22, and the handle low $19.61.
Targets are placed at $33.91, $37.6 to $40.2.
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