Green Dot Corp. (GDOT): Bullish Cup & Handle
SUMMARY
Green Dot Corporation (GDOT) is an interesting request for analysis. It's weekly chart shows the very rounded bottom and it's direction is towards generating the Cup & Handle pattern. The handle however, is quite stubby and not very usual. Usually the handle retraces 38% of the rise. However, bear in mind that not all rounded price formations result in a Cup & Handle and so just remain as the cup and in effect, that could be the case.
The Elliott Waves show that an impulse wave is quite mature. Wave 4 is likely complete given the current surge of price out of the parallel channel. So, that leaves wave 5 and that could be somewhere near $90.
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A cup and handle pattern on bar charts resembles its namesake, a cup with a handle. The cup is shaped as a "U" and the handle has a slight downward drift. The right-hand side of the pattern typically has low trading volume, and may be as short as seven weeks or as long as 65 weeks.
A cup and handle is considered a bullish continuation pattern and is used to identify buying opportunities.
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The tutorials were quite helpful
Interesting each time again. Thanks for sharing
excellent
Good to know.
Hey Haejin - thanks for all that you do. Could you please look at TVIX which trades on the NASDAQ.