ACAB Stock Tickeron detected bearish Stock Pattern: Cup-and-Handle Inverse on August 05, 2024

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08/06/24

Cup-and-Handle Inverse

ACAB - Atlantic Coastal Acquisition Corp

Emerged: 08/05/24

Breakout: $10.92

Price: $11.05

Target price: $10.73

A.I.dvisor detected a bearish Cup-and-Handle Inverse pattern for ACAB stock. This pattern was detected on August 05, 2024 . The odds of reaching the target price are 7. The Inverted Cup-and-Handle (sometimes called Inverted Cup-and-Holder) pattern forms when prices rise then decline to create an upside-down “U”like shape (1, 2, 3, also known as the Cup), followed by a shorter relatively straight price increase that bounces from the right lip (from 3 to 4, creating the Handle). Consider selling the security short or buying a put option at the downward breakout level. The confirmation move is the breakout of the price below the right cup lip.

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