First TURN log scale OFF!!! It destorts the chart!!! Second your wasting your time, looking back farther then 6 months on a OTC stock. No one hangs around more then 6 months, with a penny, unless they are bagholders and we don't want to base a entry decision on bagholders! Third, by definition a cup & handle pattern is a continuation pattern. It REQUIRES previous up trend. Your chart is showing a failed rounded bottom pattern, which looks like a cup & handel because of the failure. Also not what one should base entry decision on.
So you need to refine your charting skills. You have the basics, thats good! Just need to continue practice.
BUT you did find a stock with a OTC chart pattern. Not a exchange stock pattern. It's a run/retrace/channel pattern. The rule of thumb for those say; If bounce comes from 38% retrace, expect previous high to be taken out. If from 50% expect previous high If from 61% expect 38% and of from below 615 expect 38%.
TA indicators are perfect !!! Entry should have been last week. Your coming up to the tail end of the move & play. .0035 possible, maybe event .004, depending on how many bagholders get suckered in, by the new pop and make the same mistake!! Holding for more and not sell to get out from under.
An experienced penny trader would expect to take profits quick on any sign of run exhaustion. IE: a high candle spike. IMO don't wait for a red day. 50% FIBs will be revisited fast!!
The 1 month run and 3 month channel shows the darkside is not experienced. The story built to fast and stopped before it should have. The retained volumes, near 10 mil for a double zero says it was a good story though. Bagholders are long & strong. Thats why I think it may pop all the way to .004. A big retail herd in the valley still!
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