We had a nice break of the bull flag I mentioned previously (see last post). Now a nice looking cup and handle formation is forming. I have outlined the cup and the handle is half way through forming. An eventual break of the red horizontal line drawn should lead to an aggressive move up. You could either buy the bottom of the handle which may map out a bull flag...
Very simple trend line analysis. Very little historical data and thus support zones. The simple trend line drawn on the daily time frame should act as good support. A buy near this zone would be a good buy point.
Pretty simple and quite clear IMO. Forming a nice bull flag. Could be interpreted as a break and re-test but remains to be seen. I would like to see an aggressive move up from here to confirm break of bull flag. A bull flag is a bullish pattern and eventual break should lead to some good upside. Where exactly? I don't know. But their is plenty of head room above...
