MGLAX Stock Tickeron detected bullish Mutual Fund Pattern: Cup-and-Handle on August 05, 2024

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08/08/24

Cup-and-Handle

MGLAX - MFS Global Real Estate A

Emerged: 08/05/24

Breakout: $17.17

Price: $16.86

Target price: $17.76

A.I.dvisor detected a bullish Cup-and-Handle pattern for MGLAX stock. This pattern was detected on August 05, 2024 . The odds of reaching the target price are 6. The Cup-and-Handle (sometimes called Cup-and-Holder) pattern is formed when the price of a security initially declines and then rises to form a “U”-like rounded shape (1, 2, 3, also known as the Cup). Once it forms the right lip, it is characterized by short, relatively straight price decline (from 3 to 4) forming the handle. Consider buying a security or call option at the upward breakout price/entry point. The confirmation move is when the security moves past the breakout price above the right cup lip.

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