Good point and yes your are correct they should not go too deep and ideally in the upper half of the cup.
This would be ideal:
However it isn't required to have a perfect formation. The current handle is still ok and will look almost perfect if it keeps rising from here as I expect it to.
What NMR does have perfect is the upper edges of the cup are the same level, that is the level to break that will confirm the bullish C&H pattern. If however NMR dropped down to say 4c I would concede the C&H is voided and go back to the drawing board.
What I am more interested in now are the MMA's and how they pan out. Notice I use EMA's not simple averages. EMA's show signals far earlier.
NMR Price at posting:
4.6¢ Sentiment: Hold Disclosure: Held
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