Cup and Handle pattern It is hard to pinpoint when the cup started, but let's call it the first week in May, but it looks like it may have ended the first week in August. What the pattern seems to be indicating is the handle.
Lets hope I am correct!
Cheers
Definition of 'Cup and Handle'
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.