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Technical analysis of shares of PT Bukit Asam coal mine
Cup and Handle
This formation was first discovered by William O'Neil, a famous figure in the investment world, this pattern forms as a cup that has handles. Cup and Handle is a Bullish Continuation Patterns, a pattern that only a bullish signal (which will continue the uptrend started). Formation on Daily charts This generally occurs within a period of six weeks to eight months, and certainly will be longer when using the Weekly charts.
How to Process A Cup Formation And Handle The Founding Ideal?
Uptrend that started this pattern starting from Point A to Point B that after a decline in prices, accompanied by trendline penetration. Prices continue to gradually depressed as the basis of the cup. Then gradually the price moves up and tried to resistance level at the previous peak (ie: peak B), thus forming a cup or like the letter U. Although not always the case, in general the lips the cup on the left and right have high levels of (almost) the same.
Price movements when attempting to re-stress resistance level due to selling pressure in the area (C), will cause the corrected price down or slightly sideways consolidation, forming the handle to the right of the cup. In this consolidation phase formation that occurs potentially similar to the pattern Flags or Pennants. The smaller the correction that occurred in the value of the stock price at the formation stage of the handle formation, the signal indicating an increasingly bullish.
Uptrend that started this pattern starting from Point A to Point B that after a decline in prices, accompanied by trendline penetration. Prices continue to gradually depressed as the basis of the cup. Then gradually the price moves up and tried to resistance level at the previous peak (ie: peak B), thus forming a cup or like the letter U. Although not always the case, in general the lips the cup on the left and right have high levels of (almost) the same.
Price movements when attempting to re-stress resistance level due to selling pressure in the area (C), will cause the corrected price down or slightly sideways consolidation, forming the handle to the right of the cup. In this consolidation phase formation that occurs potentially similar to the pattern Flags or Pennants. The smaller the correction that occurred in the value of the stock price at the formation stage of the handle formation, the signal indicating an increasingly bullish.
If the price movement in its formative stages when the handle instead of sideways, but declined, the decline should not exceed the limit "mid-altitude cup". In general, the formation of the handle is formed within one week to four weeks.
As a validation of Cup and Handle pattern, the closing price must be able to penetrate into the line of resistance. Then the target can be determined based on the projection "height cup" to the breakout point from the line of resistance. Mnegenai issues pullback after permeation resistance to this pattern, according to statistics reached a high enough rate, that is 70 percen.
As a validation of Cup and Handle pattern, the closing price must be able to penetrate into the line of resistance. Then the target can be determined based on the projection "height cup" to the breakout point from the line of resistance. Mnegenai issues pullback after permeation resistance to this pattern, according to statistics reached a high enough rate, that is 70 percen.
The ideal volume of the Cup and Handle
Volume thinning should accompany the decline in price from point B to the bottom of the cup. On average, the thinnest volume occurs when price movements are based on the cup, then increased when accompanied munuju rally point C, then thinning again as consolidation or correction in its formative stage handle. Breakout should be accompanied by a surge in volume, and if there pullback must be accompanied by a thin volume, and then increases when prices began to rally back.
Summary:
In Figure above cup and handle pattern is formed in the shares of PT Tambang Coal Bukit Asam (PTBA), dimanan uptrend that started from point A to point B.
The price gradually dropped form the bottom of the cup (Support) and the price back up to point C (resistance), then re-corrected price from point C or less half a cup body, called the Handle, until this analysis is to make the price resistance level, Breakout occurs we expect in the next few days at a price of 18,850 (Bullish Break), and the projected target price will reach levels of 20250-20300, while for entry into or purchase in the short run when prices broke through the 18,100 resistance, we would buy at the price of 18,150 -18,300. While for Cut losses at the level of support at the 17,650 price, so we'll go out when the price is below the support price which is at 17600-17550.
In Figure above cup and handle pattern is formed in the shares of PT Tambang Coal Bukit Asam (PTBA), dimanan uptrend that started from point A to point B.
The price gradually dropped form the bottom of the cup (Support) and the price back up to point C (resistance), then re-corrected price from point C or less half a cup body, called the Handle, until this analysis is to make the price resistance level, Breakout occurs we expect in the next few days at a price of 18,850 (Bullish Break), and the projected target price will reach levels of 20250-20300, while for entry into or purchase in the short run when prices broke through the 18,100 resistance, we would buy at the price of 18,150 -18,300. While for Cut losses at the level of support at the 17,650 price, so we'll go out when the price is below the support price which is at 17600-17550.
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