TSXV:AAA.P - Post by User
Comment by
FishBCon Dec 02, 2010 1:53pm
294 Views
Post# 17790740
RE: Great Volume
RE: Great VolumeI did not notice until today, but it looks like a cup and saucer patern sarted forming back in mid September. It is a very bullish sign of a continuing up trend.
What Does Cup and Handle Mean?
A pattern on bar charts resembling a cup with a handle. The cup is in the shape of a "U" and the handle has a slight downward drift. The right-hand side of the pattern has low trading volume. It can be as short as seven weeks and as long as 65 weeks.
As the stock comes up to test the old highs, the stock will incur selling pressure by the people who bought at or near the old high. This selling pressure will make the stock price trade sideways with a tendency towards a downtrend for four days to four weeks... then it takes off. Below is an example of a cup and handle chart pattern:
This example looks almost identical to AAA sp over thae last 10 weeks or so