Why do you expect that the last line marked by question mark should go down and not up?
A very simple example showing an opposite can be an RRL chart started in July 2010. This chart has also a cup with a handle pattern but it has a slightly different shape.
A couple of more observations on the NMR chart.
When the stock started its move up from a low of 3.5c:
1. Lows in the retracement points were 3.7c -> 4.4c -> 5.1c with a clear difference of 0.7c (4.4-3.7)=(5.1-4.4)
2. The highs are at the same time have similar distances: 4.4c -> 5.3c (0.9c) -> 6.1c (0.8c)
So in summary there is a higher probability that the stock should move up and not down on Monday.
We may say that before if a black candle appeared then the next candle was black too, however last week a pattern with 3 white candles in row appeared at the first time as well.
irynka
irynka
NMR Price at posting:
5.4¢ Sentiment: Buy Disclosure: Held
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