posted
this from ihub-Howz BKMP Cup/Handle looking.............................
Trend: EMC established the bull trend by advancing from 10 and change to above 30 in about 5 months. The stock peaked in March and then began to pull back and consolidate its large gains. Cup: The April decline was quite sharp, but the lows extended over a two month period to form the bowl that marked a consolidation period. Also note that support was found from the Feb-99 lows. Cup Depth: The low of the cup retraced 42% of the previous advance. After an advance in June and July, the stock peaked at 32.69 to complete the cup (red arrow). Handle: Another consolidation period began in July to start the handle formation. There was a sharp decline in August that caused the handle to retrace more than 1/3 of the cup's advance. However, there was a quick recovery and the stock traded back up within the normal handle boundaries within a week. I believe the essence of the formation remained valid after this sharp decline. Duration: The cup extended for about 3 months and the handle for about 1 1/2 months. Volume: In early Sept-00, the stock broke handle resistance with a gap up and volume expansion (green arrow). In addition, Chaikin Money Flow soared above +20%. Target: The projected advance after breakout was estimated at 9 points from the breakout around 32. EMC easily fulfilled this target over the next few months.
posted
People already know about BKMP. This thread won't help. Keep to the old thread where there is history.
Besides, April June July wasn't a cup and handle. That is a bullish continuation pattern. The fact that the stock didn't bullishly continue for the rest of July and August is all you need to tell you that. LOL
However! We could be forming the base of a nice cup right now. Good time to get in if you don't mind a probable wait for payoff time.
Please continue with prior thread.
Thank you, Bigfoot
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