GLDCX Stock Tickeron detected bearish Mutual Fund Pattern: Cup-and-Handle Inverse on May 06, 2024

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Cup-and-Handle Inverse

GLDCX - Gabelli Gold C

Emerged: 05/06/24

Breakout: $16.88

Price: $17.34

Target price: $16.09

A.I.dvisor detected a bearish Cup-and-Handle Inverse pattern for GLDCX stock. This pattern was detected on May 06, 2024 . The odds of reaching the target price are 6. 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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