ESTC - Cup and Handle (8/16/2021)

Larger cup and handle play for this tech name. Stock is currently still forming a handle with KMA catching up which is exactly what you want to see. This stock could continue to hold the handle until they report earnings which is what happened to a lot of the earnings reports recently.

A good R/R setup would be a pullback to the 23EMA with a 5% stop loss or a break past the current resistance at the $159.00 area.