cup & handle formation occuring, page-30

Thanks for sharing your charts Hobo Joe and Wanelad1.

Fascinating stuff. Newbie to charting.

So is the psychology behind the formation that there are a lot of holders who bought in at 23 cents in May, see the price come back up to their purchase price after a fairly significant period (cup), they then sell into the "handle" at low volumes, this clears the short term traders/bears replaced by longer term bulls? Then it sort of becomes a self-fulfilling prophesy as well as traders look at the formation and buy in perhaps. All looking good for A1...