Replies to post #33469 on Optec International Inc (OPTI)

[mannken]

Vish2 - Generally speaking

C&H patterns are continuation patterns developing from a previous uptrend, so, on OPTI weekly w/ quick paint art

Red line - previous downtrend does not meet general rule
Green line - scenario meets general rule
Orange line - (Handle) last White candle broke cup formation, disqualify

However, C&H patterns have a lot of flexible rules and variance in formulas



Nevertheless, I see the above chart as a Weekly Bull Flag, and think until a trigger/catalyst event, we trade the channel



Take a step further, the 5EMA (red line) is exhibiting a reverse C&H, w/ support on 10EMA and in channel



If the catalyst front remains quiet for awhile, I think we could see lot's of flipping and consolidation .03-.04 range, in bear case, break below .025 area would be negative, in bull case w/ trigger event, we break out of weekly bull flag sooner than later