Chart Patterns & Algorithmic Trader (Jan. 28, '20) (77)
MS Cup & Handle Pattern
s
Reviewed in CPAT
Morgan Stanley (MS) is forming a Cup and Handle pattern on its daily chart and trading
below the breakout level of $57.67. 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 $42.39, and the handle low $48.22. Targets
are placed at $69.11, $76.3 to $81.4.
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