ALLETE INC (ALE)

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, emerging and frontier 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 a year-long cup with handle continuation chart pattern on ALLETE INC listed on the New York Stock Exchange. In the second part of the blog post you can watch a video tutorial on cup & handle continuation chart pattern.

ALLETE, Inc. is an energy company. The Company’s segments include Regulated Operations, ALLETE Clean Energy, Inc. (ALLETE Clean Energy), U.S. Water Services Holding Company (U.S. Water Services), and Corporate and Other. The stock is listed on the New York Stock Exchange. Price chart formed a year-long cup & handle continuation chart pattern with the horizontal boundary acting as strong resistance at 81 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 83.45 levels will confirm the breakout from the year-long cup & handle continuation with the possible chart pattern price target of 93.75 levels. Breakout from the year-long cup & handle continuation chart pattern can push the stock to all-time highs.

EDUCATIONAL VIDEO ON CUP & HANDLE CHART PATTERN

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