Jacob, this is a chart thread and in my view different opinions are welcomed. If anyone gets influenced by a post on HC then so be it, but I don't think that is the intension. Different scenarios can eventuate on a chart, but until they are confirmed, that is all they are - scenarios.
Cup and handle formation can still play out, but we are quickly running out of time for that as we have only 7 trading days prior to the AGM.
In saying that though, the rules for a cup and handle do not quite match the formation in ASM.
Particularly because the cup should be symmetrical. The left-side decline and the right-side incline should look similar, and they shouldn't look too steep. We had a very steep one day decline on 27 Aug and quite a steep incline from 29 Oct to 5 Nov. This makes me believe the cup and handle formation scenario is invalid in our case. As they say.....time will tell.
From my POV the most immediate level of support is the up-trending trendline that we have just surpassed.
ASM Chart Thread, page-3878
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