A Breakout to new highs? All of the above? One thing is certain, the chart looks similar to Google's a few weeks back, before the gap fill, before the breakout, about 60 points ago.
The Cup with Handle is a bullish continuation pattern that marks a consolidation period followed by a breakout. With the financials moving higher, it may be time to pick up a few shares of MA.Earnings due out October 31, I'm tempted to pick up a few Jan '08 200 call options @ 1.40
2 comments:
I love the cup and handle. It tends to be a very useful pattern for picking out trades with strong upside. The one thing I would say, though, is that it's not acutally a Candlestick pattern, per se. It's just a chart pattern you can see on a bar chart just as clearly.
Fixed. Thanks John.
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