DUFU (7233): Bullish

Pattern: Weekly Rounding Bottom & Daily Cup & Handle

As seen from DUFU weekly chart above, there is a big rounding bottom formed and the price broke out the neckline a few months ago and is on a very steep uptrend. Based on the projection of the pattern, the target price is 1.15.

On the daily chart, DUFU recently broke above the neckline of the cup and handle pattern. It is noticed that a quick backtest (refer to the orange line path) to the neckline has been done and the projected target prices are 0.9 and 0.95.

So what does a weekly rounding bottom + A daily cup and handle mean?

Weekly pattern implies long term bullish & daily pattern implies short / middle terms bullish. It might be worth to do an in-depth study to see if it fits for investment purpose.

In short, the immediate target prices for DUFU are 0.9, 0.95 and 1.15.

I am bullish on DUFU as long as it stays above 0.72. 

Leave me a comment below and let me know what you think. If you have any queries or want to share the next big stock with me, feel free to contact me via my email or FB page below.

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Cheers,

Ming Jong

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