FLARE has now set the boundaries for a potential cup & handle.
I posted a previous chart that surmised a potential cup & handle may be attempting to develop. Now that the recent breakout has pulled back, it has given us the ability to determine the height of the cup, and the pullback will also help us to determine the potential depth of the lower trend line on the handle. The white dashed line is my estimate of the general area I believe it could be.
This is a great sign! With the recent bounce we've seen the past 10 days or so, FLARE is now on a lot of people's radar who missed the recent breakout, and are now looking for a potential entry point moving forward. This could give us the volume we need in the coming weeks/months to breakout of the cup & handle pattern, and see even more impressive gains in the near future.
Keep in mind it will take time for this handle to fill in, assuming that the cup & handle will continue to form moving forward, but at this point it's looking highly probable.
Good luck, and always use a stop loss!
This is a great sign! With the recent bounce we've seen the past 10 days or so, FLARE is now on a lot of people's radar who missed the recent breakout, and are now looking for a potential entry point moving forward. This could give us the volume we need in the coming weeks/months to breakout of the cup & handle pattern, and see even more impressive gains in the near future.
Keep in mind it will take time for this handle to fill in, assuming that the cup & handle will continue to form moving forward, but at this point it's looking highly probable.
Good luck, and always use a stop loss!