h00ts said: ↑ For anyone who doesn't know the significance of a...

h00ts said: ↑
For anyone who doesn't know the significance of a cup and handle pattern. Here's a quick description from Wiki.

Cup and handle


In the domain of technical analysis of market prices, a cup and handle or cup with handle formation is a chart pattern consisting of a drop in the price and a rise back up to the original value, followed a smaller drop and a rise past the previous peak.[1] It is interpreted as an indication of bullish sentiment in the market and possible further price increases.[2]

The cup part of the pattern should be fairly shallow, with a rounded or flat "bottom" (not a V-shaped one), and ideally reach to the same price at the upper end of both sides. The drop of the handle part should retrace about 30% to 50% of the rise at the end of the cup. For stock prices, the pattern may span from a few weeks to a few years; but commonly the cup lasts from 1 to 6 months, while the handle should only last for 1 to 4 weeks.[3]

Cheers
Moowee