IPCALAB - Rounding bottom or Cup&Handle ?

1 Apr 2017

IPCALAB is nearing the resistance level 640 - 650. If it breaks the resistance with volume, the price may gain another 60 to 80 points in 6 months to one year. In that case this pattern is rounding bottom. If the price retraces and then breaks the resistance, the pattern will be cup and handle. Both cup&handle, rounding bottom are trend continuation patterns. Both the patterns shows the stock is bullish. Keep it in watch list. When the price nears the resistance the movement will be in sideways before it tries to move further.