Cup & Handle Pattern Confirmation: 1) Forming cup with 'U' shape 2) The handle is getting formed in the upper half of the cup 3) The volume has decreased while forming the handle
Interpretation: - The stock was in an uptrend until it hit the major resistance(near to all-time high) - Selling pressure incurred due to people who were stuck at high prices - Not many are selling (as volume has decreased), weak hands got removed - Can consolidate for some time - whenever volume starts increasing, it can test previous all-time high
Waiting for volume to increase for a fresh breakout.