GREY:CLLZF - Post by User
Post by
leveraged1on Jan 01, 2011 10:25am
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Post# 17914349
cup with handle formation
cup with handle formation
I am not a technical expert bt any means, however looking at the 1 yr chart, it appears that a "cup with handle" trading formation may be occurring.
Wellsitter I believe was the expert on this formation last time . I wonder what he thinks this time?
But from the 1yr chart, it looks to me like the start of the cup, could be at any of 3 different levels; $1.83 - $1.52 or $1.33. If so, whichever of the 3 levels it may be, at the opposite end of the cup or "the handle" there will be a rapid spike dramatically above the original start level.
Some moderate gains now, instead of a spike in the early part of the new year, may be preferable.That way the shallower trading pattern, can complete the cups formation at higher levels. That is spike up above $1.83 later, in stead of at the $1.33 level we are at now.
Wellsitter........?