Cup Handle breakout- INITIAL BUY SIGNAL
Corvis - CORV : Nasdaq
We have just had a breakout from a cup and handle formation that started in March of 2002. Look at the weekly chart and see the large up bar in March of 2002. See the cup form over the next 15 months and then a nice long 3 month handle.
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On Friday we had BREAKOUT. Every Article that I read about a cup and handle formations say at breakout - YOU START BUYING. It is the INITAL signal of a POWERFUL move coming.
No wonder SHORTS, MM's and just plain people that did't get on the Boat are here for the first time BASHING. Look at the Chart, this can easily move back up to the previous November 2001 high of $3.80, or even beyond, in a blink of an eye. DON'T LET THEM CONFUSE YOU!
This company in reality has billions of $ in assets- not old assets, but the cutting edge of technology assets. Newer and better than anyone else!
They have NO DEBT.
They have hundreds of millions of $ in cash, and the proven ability to raise more in a blink of an eye!
They have opportunity with the Gigbe project, Jerry Kent's cable Project and other government / private projects!
Institutions are buying like crazy!
Volume is the highest since the IPO!
If you'd like to read about cup and handle formations, go to any search engine and type it in. Here is an excerpt from one of the articles and the link. William O'Niel is the Publisher of Investor's Business Daily. Please go to these articles and see the charts and the powerful moves that follow.
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Cup and Handle
Cup and handle patterns were first identified by William J O'Neil in his book How To Make Money In Stocks. The cup and handle is a longer term continuation pattern, normally observed on weekly charts.
The cup and handle forms as an intermediate/secondary cycle correction before the primary cycle resumes its up-trend. The pattern is a form of (ascending) triangle.
The cup pattern should take a minimum of 7 weeks to form. There is no upper limit with some patterns taking as long as a year. The handle may form over one or two weeks but may also take several months.
Trading signals ************
Go long at the breakout from the handle pattern with a stop below the most recent low in the handle pattern. **********
FEEL FREE TO SPEAD THE NEWS! BUY WITH CONFIDENCE! THIS IS GOING TO BE BIG! |
