Like beauty, a cup and handle is in the eye of the beholder.
Sometimes we get too hung up on chart patterns and if they fit in with the exact text book definition and shape. Most stocks dealt with on STT are relatively low liquidity prone to spikes when compared to the text book examples. Hence the noise sometimes outweighs the signal. Look at the general trend IMO.
FWIW, and I can't confirm this as I don't have my computer handy at the moment, the handle you've drawn with reducing price spread looks like a descending wedge which is normally bullish.
Then again, you may still be under the effects of yesterday's sauce and are lacking in hand-eye coordination when it comes to drawing a few lines on the computer.
