pretty long handle if this is truly cup and handle. Looks to me the handle formed 4/11-4/16 as a bull flag and then broke out to the upside only to ultimately fail. We are now in a descending triangle/pennant from the 4/16 breakout with support at .10. the support at .10 is huge as it also represents the late March/early April high and is right at the 50 day MA. A break below .10 and look out below. The last 3 days represented fails breakouts above the 13 day MA. I see no compelling case for this pps to go up and all the risk is to break through 0.10.
Youre certianly not making me feel good about my 70, 000 share purchase today, lol. We are skirting on the edge of danger. Without a significant news publication this absolutely drops back to .07 support level.
The cup and handle was about formed on LATF and then it crashed out hard. It was chiefly because of bad PR. I lost 13k In 2 days. Lets pray for no repeat.
Sadly I tried to buy 23k shares of bcci @ .07 prior to entering LATF. My BCCI buy orders did not trigger. THAT would have been a big payoff with BCCI hitting .15s shortly after.
Just remember the patterns mean nothing until they are realized. *Gulp*
Hoping for good news! Hopefully about new locations and expansions! Go BCCI!
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