CRU on TSX.
Cup and Handle pattern has been forming since lat November 2009, about 4 months.
Measured Target
Measure the height from the right cup lip to the lowest valley then multiply by the above “percentage meeting price target.”
Cup and Handle pattern setups
- Right lip resistance is at $0.41.
- 4 months long
- handle took 2 weeks to form
- Right lip is higher then left lip
- U shaped
- small volume going down the handle
- large volume going up the handle
- 200 day Moving Average is at .40 which is right at the resistance. Crossing MA200 is another bullish signal.
Measured target price is $1.11 – $1.51
$0.11 –> $0.41 = 271%
From the bottom of the cup to the height right cup lip: $0.11 –> $0.41 (272%)
The resistance line for breakout is $0.41. There the target price is $0.41 (272%) = $1.52.
