Hey @pgrace
Unfortunately it seems the pattern is quite weak. If you look at a 3yr daily chart you can see the previous close at 2c which occurred around the 15/09/2014. This was followed by a slide in the price but has finally recovered to around those same levels when we saw the spike in volume and price on the 23/02/2016. The reason I say it is a weak form of the cup and handle formation is that we saw a bit of a rise in the price around 29/06/2015 (thereby ruining the "cup" pattern). Hope that helps a bit and happy to bounce ideas off you guys
For more info on trading cups and handles:
http://www.investopedia.com/university/charts/charts3.asp
Ps following some of the rumours today I decided to offload half my holdings at 1.9 so I can be free carried with the rest. Will be more than happy to top up again in due course.
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Open | High | Low | Value | Volume |
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---|---|---|
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1.5¢ | 7590445 | 23 |
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31 | 10034276 | 0.013 |
22 | 3870460 | 0.012 |
14 | 3786365 | 0.011 |
19 | 6465926 | 0.010 |
Price($) | Vol. | No. |
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0.016 | 10114400 | 32 |
0.017 | 18749772 | 36 |
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