The stock has good fundamentals and the pattern checks all the criteria:
➊ Prior Up Trend > 30% with volume. ✔
➋ 50% Max Correction Cup over 7 to 65 weeks. ✔
➌ 2 weeks or more Handle above 50% of Cup and 10 week ma. ✔
➍ Breakout Day Volume > 140% of 50 day average. ✔
⮞ The peak price in the handle area is what determines most buy points
and is almost always below the base’s actual high.
⮞ Sometimes you can get a slight head start by drawing a downtrend line
from the overall pattern’s absolute peak downward across the peak
where the stock begins building the handle and begin your purchase
when the trend line is broken on the upside a few weeks later.
I expect it will go up in the coming months as long as the fundamentals continue to be there and the market doesn't turn bearish.
➊ Prior Up Trend > 30% with volume. ✔
➋ 50% Max Correction Cup over 7 to 65 weeks. ✔
➌ 2 weeks or more Handle above 50% of Cup and 10 week ma. ✔
➍ Breakout Day Volume > 140% of 50 day average. ✔
⮞ The peak price in the handle area is what determines most buy points
and is almost always below the base’s actual high.
⮞ Sometimes you can get a slight head start by drawing a downtrend line
from the overall pattern’s absolute peak downward across the peak
where the stock begins building the handle and begin your purchase
when the trend line is broken on the upside a few weeks later.
I expect it will go up in the coming months as long as the fundamentals continue to be there and the market doesn't turn bearish.
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