Cup forming over 2 years with the handle now starting to form
Looking at BE over the long term and I realized that a cup had been forming over the past couple of years and it looks like the recent pullback might be the handle starting to form.
This is very interesting since the cup itself has a depth of ~$35. Rule of thumb says that the after the reversal out of the downtrend of the handle - the breakout would climb to the depth of the cup. So there's a $35 upside potential.
A strategy would be to set a stop loss buy just above the top support/resistance line ~42.50. That is where a breakout should occur.
As always do your own research and let me know what you think.
This is very interesting since the cup itself has a depth of ~$35. Rule of thumb says that the after the reversal out of the downtrend of the handle - the breakout would climb to the depth of the cup. So there's a $35 upside potential.
A strategy would be to set a stop loss buy just above the top support/resistance line ~42.50. That is where a breakout should occur.
As always do your own research and let me know what you think.
I'm not a financial advisor and I'm not offering financial advice. Everyone should do their own homework before making any decisions!
Good luck and I'm always interested in what you think.
Good luck and I'm always interested in what you think.
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