TGL Cup & Handle bullish formation and breakout

Tariq Glass Limited (TGL) formed a cup & handle pattern few days ago. The stock has now broken out of this pattern with a bullish candle on high volume.

TGL had a volume of 1.49mn shares today which is well above its average daily volume for this year.

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The company also has its board meeting on the coming weekend and the stock could well be positioning itself for a possible positive result.

Either way, it is worth keeping an eye on. The economy seems to be opening back up and interest rate cuts could start anytime. In such a scenario, cyclical stocks like TGL always benefit.

⚠️ This post reflects the author’s personal opinion and is for informational purposes only. It does not constitute financial advice. Investing involves risk and should be done independently. Read full disclaimer →