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SFP.X Crypto Tickeron detected bearish Crypto Pattern: Cup-and-Handle Inverse on May 11, 2024

A.I.dvisor
at Tickeron.com
05/14/24
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Cup-and-Handle Inverse
SFP.X - SafePal cryptocurrency
Emerged: 05/11/24
Breakout: $0.7766
Price: $0.820365
Target price: $0.7158
A.I.dvisor detected a bearish Cup-and-Handle Inverse pattern for SFP.X stock. This pattern was detected on May 11, 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.

SFP.X in downward trend: 10-day moving average broke below 50-day moving average on September 02, 2024

The 10-day moving average for SFP.X crossed bearishly below the 50-day moving average on September 02, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 21 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .

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