Thursday, February 06, 2014 10:39:43 AM
IGXT - To the naked eye it does look somewhat like cup and handle, however according to a couple of definitions, it's a "no" IMO.
Cup and handle's should be 7 weeks to 65 weeks. This one is 2.5 years. Rounded bottom isn't very rounded. Handle is very spikey and went down too far compared to a "normal" 8-20% handle correction.
On a WEEKLY chart...maybe the handle will start showing more like a handle, but right now its more of a big red candle of indecision. Hope this helps...
Cup and handle's should be 7 weeks to 65 weeks. This one is 2.5 years. Rounded bottom isn't very rounded. Handle is very spikey and went down too far compared to a "normal" 8-20% handle correction.
On a WEEKLY chart...maybe the handle will start showing more like a handle, but right now its more of a big red candle of indecision. Hope this helps...
These thoughts are just mine, not right, not wrong, just thoughts. Invest in what you believe in, not what I believe in. Do your research, and invest in the facts.
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