Chart, page-52

The chart from my post the other day with the comments I made:

Leaky ships tend to continue being sold and close on a low but today RR1 bounced strongly off of 1.05c and did so quite quickly, closing strongly at 1.2c to finish on a bullish long-legged doji candle with volume and above the 50-day MA (yellow line).

As a rule of thumb if it's above the 50MA it's bullish, below it's bearish...closing above after rejecting below is quite bullish.

Still needs to confirm tomorrow and rest of the week but today will look like a bear trap come next week.

Yesterday was what we wanted to see, low volume with no selling pressure and today increased volume with the share price moving up is confirming that drop was a bear trap and in hindsight quite an orchestrated move.



To answer your question Jimmy, yeah there is a Cup and Handle formed, the Cup has fully completed with the handle now playing out.

Based on the Cup and Handle, the share price target is 2.1c as it's measured by the depth of the cup (0.009) and from the top point of the handle end (1.4c)

Needs to break that 1.4c wall but its nothing that we haven't seen done, but once that does it should confirm the complete breakout of the C&H.