Chart Patterns & Algorithmic Trader (Sep. 21, '20) (61)
CTSH Cup & Handle Pattern
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Reviewed in CPAT 9/7/20
Cognizant Tech Solutions'A' (CTSH) is forming a Cup and Handle pattern on its daily
chart and trading near the breakout level of $71.58. 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 $55.75, and the handle low
$64.99. Targets are placed at $83.44, $90.9 to $96.2.
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