Chart Patterns & Algorithmic Trader (Jan. 28, '20) (71)
PAYC Cup & Handle Pattern
s
Reviewed in CPAT
Paycom Software Inc (PAYC) is forming a Cup and Handle pattern on its daily chart and
trading below the breakout level of $342.10. 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 $252.71, and the handle low $276.54.
Targets are placed at $409.86, $452.4 to $482.4.
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