TaPlot

$SSP forming 4 Month #CupandHandle #ChartPattern

Long
NASDAQ:SSP   E.W. Scripps Company (The)
The handle part of the pattern is taking on the shape of 2 month rectangle pattern with $12.50 acting as boundary resistance. Chart patterns that accomplishes 3 things when they breakout are ones that have the most chance succeeding. When the breakout takes place (daily close above $12.50), SSP will:
1) Close above its cup and handle chart pattern (blue line on chart - breakout)
2) Clear a multi month weekly downtrend (red trend line on chart)
3) Clear/Breakaway from the 200 MA (yellow line on the chart)
Order cancelled: volatile day on September 24th. never closed over chart pattern resistance. Chart is too all over the place. removing from watch list.

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