Sustainable Green Team Ltd. (SGTM)

[Crusader]

Thin resistance at .012 for SGCP:

ClayTrader's overhead next level of resistance @ .012 pps is "thin" as he said in last week's chart video. His more recent 11/30/09 chart video for SGCP doesn't mention how thin the .012 resistance really is. In other words, there was little volume at that level months ago so as to constitute a significant "layer of investors" still in place that would sell in volume if price reaches .012 today or tomorrow. It is therefore "thin".

So, looking at the two year chart, I have previously posted my humble opinion:

No significant resistance exists for SGCP until .04 pps- the right side top of the potential "cup"!

Months ago, there was a "top" for SGCP at .04 that constitutes the left side of the potential Cup. .04 pps is now also the right top of the potential "cup & handle formation" on the 2 year chart.

The bullish breakout handle top (which equals the height of price from the right bottom of the cup to its top) is therefore at .08 pps. This would be the bullish "break out formation". This handle, in all honesty, may also slant down if it is not a breakout but rather is a consolidation "cup & handle" formation. (See link below re both kinds of formations.)

As to the bullish break out alternative pattern going up to .08 pps, that's almost a 10 bagger from here!!!

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"...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."

http://stockcharts.com/help/doku.php?id=chart_school:chart_analysis:chart_patterns:cup_with_handle_cont