CUP AND HANDLE
Pattern on a chart resembling a teacup with a handle. The cup’s shape is similar to a "U" shape while the handle drifts slightly downward. The right-hand side of the pattern has low trading volume, trading between seven weeks and 65 weeks. As the stock tests the old highs, individuals who acquired it at or close to the old high put selling pressure on the stock. The pressure then makes the stock trade sideward heading to a downtrend, normally for four days to four weeks, then it will take off.
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ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 11:00 | Ifo Business Climate Index | Jan | |
| 11:00 | Ifo Current Assessment | Jan | |
| 11:00 | IFO - Expectations | Jan | |
| 15:30 | Durable Goods Orders | Nov | |
| 16:00 | NBB Business Climate | Jan | |
| 01:50 | Corporate Service Price Index | Dec | |
| 02:01 | BRC Shop Price Index | Jan | |
| 02:30 | NAB Business Confidence | Dec | |
| 04:00 | Credit Card Spending | Dec |
