Cup and Handle...

[joet]

Thanx for looking Seb,
I believe some typos that i am trying to clarify Do you see a rounding bottom on GNBT... the Chart on GS perhaps the 150's was a bottom?

I am bullish on GNBT, good news and I like the chart, if we do get a dip to the 1.90's i may add some..  where do you pick the left rim of the cups?  this seems key in seeing the pattern and creating a target. 

GNBT weekly chart sure looks more like rounding bottom as there is no handle, target for rounding bottom?? Do you put more trust into daily or weekly charts?  Is it particularly strong pattern if you see it on both?  Time frame for patterns for you?

On BITS would you enter now or wait for a pull-back...  I am even thinking about buying if it breaks new high at 10.37 and immidiately put a stop at 10... thoughts?
The trendline you drew on BITS seems very steep?  (short term)  why did you choose to draw it there (if you have time   I understandif you do not have time to answer questions, just know that thinking about the patterns as i formulate the questions helps me learn.

Cheers Joe

[sebfr]

Hi joet ! 

I have some time to answer to you..

About BITS :
Trendlines are here for help you. Sometimes they work well and sometimes not. You can see a channel on BITS. It is more releviant.
Don't wait for a pullback. Pullback is already arrived ! Look at the chart (red lines).
I believe it can be a good time to buy this stock. Look at volume. Or you can wait for new highs.
Two possible stop-loss : Along trendlines of channel (Blue line) or at the low of the pullback near 8.25 zone.

About GNBT :
Indeed Chart seems good  ...Hard to say : rounded bottom or "cup and handle" ?..I am sorry but i don't know where the profit target could be in theory for such a pattern. Use support-resistance or trendine or indicators to give you good targets. 2.75 is a valid resistance and 1.85 a valid support.
I use Daily chart
Yes on GS you have a rounding bottom around 150

Good day

[agatto2]

This is an unusuall chart  I love the cup with a handle( so reliable ) but i rarely see the cup extend past the old high. Maybe its forming the handle now, but like I said its unusuall. Usually after the week hands are shaken out  IE bottom of handle , the stock will go up above the old high a  ummmm shoot i forget the percentage . Melf will know hes like a tech wiz guy . Great find though.   

[sebfr]

A cup and handle is formed on BITS...