MLPZX Stock Tickeron detected bearish Mutual Fund Pattern: Cup-and-Handle Inverse on June 20, 2024

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MLPZX - Invesco SteelPath MLP Income Y

Emerged: 06/20/24

Breakout: $6.02

Price: $6.21

Target price: $5.9

A.I.dvisor detected a bearish Cup-and-Handle Inverse pattern for MLPZX stock. This pattern was detected on June 20, 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.