Cup and Handle or trending down to support?
It looks like a nice cup and handle pattern on the daily right now. But, there's no guarantees it's going to stay that way. Without PR, volume, or some other catalyst this is just going to drop to support. Can't predict...just have to react to what the chart gives you. I am HOPING for a cup and handle confirmation. I would love to hear any other observations, comments, ...etc.
Comment:
Alright...almost forgot about this one. Sold it a while back. After review...it did both. It had a nice one day pop after doji on daily chart...and now here we are at support. Let's see if $2.61 holds. Selling should wear off soon. RSI oversold. Could see a nice turnaround from here...waiting for confirmation.
Comment:
It should be noted that this stocks price historical price action can give reason for caution. Most of it's major pops have been met with equal or greater (usually greater) drops. If I enter on potential reversal, I'll be thinking quick profits until I see more substantial PR. The pops are nice, but i am trading w/ caution.
