From TradingView · · 30s
RMD Cup-and-Handle Pattern Breakout
RMD stock breaks resistance above 50-day moving average with cup-and-handle pattern.
In brief
RMD stock breaks resistance above 50-day moving average with cup-and-handle pattern. ResMed stock may rise to $302.34 after breaking $242.40 resistance. Originally reported by TradingView.
RMD Cup-and-Handle Pattern
ResMed stock reached resistance above the 50-day moving average while closing a cup-and-handle pattern.
Breakout Levels
Entry trigger: Break above $242.40 Target: $302.34 Stop: Under the support / base of the pattern.
Pattern Analysis
The alignment of trend, pattern and level makes the breakout area key to watch.
The key point
ResMed stock may rise to $302.34 after breaking $242.40 resistance.
