Let keep this Cup & Handle pattern in the front row as longer time is needed to see if this Pattern will complete…
Start building in early Sept 2011… and since draw a very large cup with a first upswing in early Feb when move above the .9¢ long resistance.
From there in a nice upswing to the .16¢ neckline, did hold into .125¢ to .16¢ trading range for 3 weeks, and pulled.
It was the 1st test to that level since Sept 2nd.
Low in Dec was .055¢ run to 16¢ high (in early Feb) and now pulled to .085¢ test and (so far) holding the .9¢ level (near (+/-) the half way of the cup)… and need to say with fading volumes actually to little 39K yesterday, (low volume during the handle complete is needed). So many criteria are actually met.
Now I’m on the wait and see mode for next move to be done or flunk.
Here are other things to watch for in the coming days and weeks:
On the near term (as I think we saw the low) need to hold this recent low trading range (as it could side way trend for a short while).
From there:
A first upswing should be seen testing normal short resistance (.10¢ & .11¢).
And 2nd the real challenge is first move to the .15¢ to 16¢ resistance & neckline level (may need several test to complete) but if so, the other challenge is to move above and hold above…
If we see the SP moving above and holding above (the .16¢ line) we would be in a very positive position to see more upside.
But as said Patience on this very long pattern.... to see IF will unfold in a positive way…
I’m not telling it will, just identify this pattern and as I decide to post it to you we need to see if this pattern will ever complete…
(TA, are accurate 80% of time, and each pattern could fail to complete, B/C bad news or worst bad Markets condition) That’s my believed! Reason I say at Minimum need to be followed in time.
As it’s just my TA reading please Dyodd always!
Fratzy!
For your eyes the daily & weekly chart and the investopedia link for the cup & handle pattern… hope this help.
https://stockcharts.com/h-sc/ui?s=ETR.V&p=D&yr=0&mn=9&dy=0&id=p80372314924
https://stockcharts.com/h-sc/ui?s=ETR.V&p=W&yr=0&mn=9&dy=0&id=p62559457466
https://www.investopedia.com/terms/c/cupandhandle.asp#axzz1sPhYvza6