@whp03 remember a month back I kept saying “handle formed” and you kept saying “not yet”. you are probably right…. This is the handle we’ve been waiting for
5
@MooseCapital The cup/handle is in the eyes of the beholder. 1) If the neckline is $133ISH, the initial green handle ($133 to $110) shows a break-upwards from around $110, breaking the $133 neckline going to $165 (multiple top) and $176 ATH. $133ISH appears to then become SUPPORT (aka late last week's low). MAX PAINT = $135 on the Nov Monthly Options (Puts below $135, Calls above $140) became worthless. As of tomorrow AM the slate is clear for the Dec monthlies to play out. 2) Less likely - if the neckline is the red line ($146.90 = Double Top)... the 2nd green range could be a non-traditional handle. But to my eye it looks scenario #1 was the cup-handle you saw, with $133.17 SUP, with last week = 'management' of Nov option expirations by the MMers. Either way, a healthy chart IMO would play out with 3 price points - 9/24 H = $133.17 (RES), 11/10 L = $133.16 (SUP) and 11/19 L = $133.45 (SUP) is support into Dec. We'll all see what comes of the price early this week.