Handle Forming for Cup and Handle Pattern for Kandi Tech

24 thg 7, 2014

Reviewing the Kandi Technology daily chart, a bullish cup and handle chart pattern is forming, with the cup portion of the pattern forming over the past 4 months. The trend prior to the cup formation is bullish, so after the handle formation, which is beginning the downward trend, so a conservative entry point would be at the two upper extremes of the cup, around $22. The handle formation should take a few more days based on price bar analysis. A more aggressive entry point would be between the .382 and .5 retracement, which is $18 and $16.70.