OMNI, I used the cup & handle chart as a possible buy point, $5 as the bottom of the cup & $6.40 as the top or pivot point = $11.40 x 1/2 = 5.70, which just happens to be the 200 EMA (5.71), we don't want it to drop below 5.70, this would be a failed cup & handle chart, but we will give it .05 cushion. ORCH was an example of one, $2.30 was the failure point, I didn't follow the rules that time. Discipline is hard sometimes when you like the company or in this case did like the company, I have moved on from ORCH, not to re-visit.
Check out SNVBF, it's been a rocket ship, but I imagine we will get a pullback in the near future, deciding right now if I'm going to take off my trading shares.
chris |
