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Hi Cabbie, for your interest I am posting an example of a common bullish breakout pattern known as a cupa and handle formation Eg.



The Cup with Handle is a bullish continuation pattern that marks a consolidation period followed by a breakout. It was developed by William O'Neil and introduced in his 1988 book, How to Make Money in Stocks.

As its name implies, there are two parts to the pattern: the cup and the handle. The cup forms after an advance and looks like a bowl or rounding bottom. As the cup is completed, a trading range develops on the right hand side and the handle is formed. A subsequent breakout from the handle's trading range signals a continuation of the prior advance.
1.Trend: To qualify as a continuation pattern, a prior trend should exist. Ideally, the trend should be a few months old and not too mature. The more mature the trend, the less chance that the pattern marks a continuation or the less upside potential.
2.Cup: The cup should be "U" shaped and resemble a bowl or rounding bottom. A "V" shaped bottom would be considered too sharp of a reversal to qualify. The softer "U" shape ensures that the cup is a consolidation pattern with valid support at the bottom of the "U". The perfect pattern would have equal highs on both sides of the cup, but this is not always the case.
3.Cup Depth: Ideally, the depth of the cup should retrace 1/3 or less of the previous advance. However, with volatile markets and over-reactions, the retracement could range from 1/3 to 1/2. In extreme situations, the maximum retracement could be 2/3, which is conforms with Dow Theory.
4.Handle: After the high forms on the right side of the cup, there is a pullback that forms the handle. Sometimes this handle resembles a flag or pennant that slopes downward, other times just a short pullback. The handle represents the final consolidation/pullback before the big breakout and can retrace up to 1/3 of the cup's advance, but usually not more. The smaller the retracement is, the more bullish the formation and significant the breakout. Sometimes it is prudent to wait for a break above the resistance line established by the highs of the cup.
5.Duration: The cup can extend from 1 to 6 months, sometimes longer on weekly charts. The handle can be from 1 week to many weeks and ideally completes within 1-4 weeks.
6.Volume: There should be a substantial increase in volume on the breakout above the handle's resistance.
7.Target: The projected advance after breakout can be estimated by measuring the distance from the right peak of the cup to the bottom of the cup.
As with most chart patterns, it is more important to capture the essence of the pattern than the particulars. The cup is a bowl-shaped consolidation and the handle is a short pullback followed by a breakout with expanding volume. A cup retracement of 62% may not fit the pattern requirements, but a particular stock's pattern may still capture the essence of the Cup with Handle.

I include a chart of CKK with dark blue shaded area fulfilling the classic cup and handle pattern and the lighter shaded area highlighting the possibility of a self similar fractal pattern developing in the longer term.
Fractals are self similar forms which vary in size and scale and which often repeatedly develop in a stocks history.
If you examine the form in the dark blue highlighted area and compare it to the larger form that is developing in the light blue area then the fractal nature of self similarity begins to become apparent



From the longer term perspective,Should such a pattern form then it would have a potential target zone of .65 cents [ see note 7.above....measuring the size of the developing cup from the high of .39 on 24/04/2009 to the low of .13 on17/08/2009 gives us a range of .26 cents adding this to the high of .39 eg.estimating a 100% target advance from this high gives us a poosible target of .39 + .26 =.65cents
Hope this has some value for you.....BhaiSahib