Cup with handle breakouts can often be successful chart patterns in a bullish market and today I highlight a breakout from a cup with handle base in Iconix Brand Group (ICON). It’s long been a highly rated retailer in my database and today it broke out from the downward trend of the handle formation with heavy volume and went on to briefly touch all time highs before pulling back. The stock is currently continuing to digest gains and looks poised to begin moving again soon.
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Filed under Stock Trade of the Day by Tate Dwinnell
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