Monday, February 14, 2011

Cup & Handle - BWLD

Good, low risk setups were hard to come by today. The momentum names, for the most part took a breather, and many gappers were faded.

BWLD, which I mentioned in last night's post, set up as a textbook cup & handle pattern. Price/volume contracted as the handle formed. This contraction foreshadows expansion and BWLD delivered a full measured move.

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