yes, you've stated a typical scenario for how this plays out. generally speaking, as i've noted elsewhere, in a big cap a standard pullback on the handle is roughly the fibonacci 38.2, which was .0225. in the less stable pennyland it generally finds the fib 61.8.
guess what? that point is .0173.
as for the duration of the handle, it can take 2 weeks (or more) to play out. this one is setting up to do its thing in line with the conference.
chartwise -- you can find my chart here and elsewhere -- this has yet to finish building a base from which to extend its platform. the pps has traded below the 5 and 10 ma. these are the initial technical tests of an uptrending stock. i'm suspecting this may test the 50ma. and, as you stated, this is al healthy.
of course, the 'yearners' here -- i refuse to use an adjective or adverb for the posters on this board since so many are concerned with the daily trading and the activity of traders in particular -- will prolly tell you its a waste to talk charts. too bad! no one has the right to arrogantly tell me how to trade, or what to look for. its my money. i don't tell them what to do.
best of trading to you 'greenwillow'. i like the tone of your posts.
**as always i will not be surprised to see this post disappear**
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