Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed and emerging markets, ETF’s and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features an equity listed on the National Stock Exchange of India. MRF LTD was discussed in the latest weekly Global Equity Markets report. Below you will also find a video tutorial explaining cup & handle bullish continuation chart pattern.
MRF LTD (MRF.NS [1])
MRF Limited is engaged in the manufacture and sale of automotive tires, tubes and flaps, among others. The Company also manufactures rubber products, such as tread rubber and conveyor belt. The stock is listed on the National Stock Exchange of India. Price chart formed an 8 month-long cup & handle continuation with the horizontal boundary acting as strong resistance at 74,100 levels. A daily close above 76,300 levels will confirm the breakout from the 8 month-long cup & handle continuation with the possible chart pattern price target of 86,300 levels.
Educational Video Tutorial on Cup & Handle bullish continuation chart pattern
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