Replies to post #21226 on lowtrade

[lowtrade]

NO for two reasons.

1st there is no left lip. The real left lip is at 2.65, not at a few day stall.
2nd the cup & handle is a bull continuation pattern. Meaning there needs to be a bull up trend before first lip.
http://stockcharts.com/h-sc/ui?s=API&p=D&yr=0&mn=3&dy=0&id=p25572173247

So if the price continued back up to 2.65, before the retrace handle, it would be a cup & handle pattern. But by trying to use that little stall point as the left lip. Would say the cup formed in a down trend. Which is a bear formation.

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