Chart Patterns & Algorithmic Trader (Jan. 28, '20) (28)
$TRAN Cup & Handle Pattern
s
Reviewed in CPAT
Dow Jones Transportation Index ($TRAN) is forming a Cup and Handle pattern on its
daily chart and trading near the breakout level of $11359.59. 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 $8920.34.
Targets are placed at $13213.24, $14374.3 to $15193.8.
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