Let's take a quick look at RGB's 13 years chart below:

A cup and handle pattern took 7 years to form and after it broke out, the price shot up in a few months and not almost hit the first target price of 0.35 based on the projection of the cup and handle pattern.

Watch out for the overhead resistance ahead as boxed in red, which is around 0.45, as the second target price.

Every rising tide is accompanied by huge volume while pulling back with low volume. This is a healthy sign of a bullish stock.

From the daily chart below:

We can see clearly that impulsive up move is accompanied by rising volume while the retracement is with thinning volume. This gives us the hint that the controlling force is still intact.

Do watch out for a retracement at the target price. Plan your trade ahead and enter your preferred setup. Refer to this post for entry setup illustration - http://klse.i3investor.com/blogs/candlestick/113605.jsp

RGB: Bullish

Pattern: Cup & Handle Break Up

Have a great weekend ahead!

Topics That You Do Not Want To Miss

How to determine the "bullishness" of the patterns- https://www.facebook.com/BursaSGXcandlestick/videos/378260995905662/

The Trade Management Technique You Need To Know - http://klse.i3investor.com/blogs/candlestick/114496.jsp

Best Way To Learn To Trade Without A Mentor - http://klse.i3investor.com/blogs/candlestick/113821.jsp

Stop Loss & Safe Trading - http://klse.i3investor.com/blogs/candlestick/113510.jsp

Position Sizing - http://klse.i3investor.com/blogs/candlestick/113061.jsp

Come Up With Trading Ideas & Turn Them Into Investing Ideas - http://klse.i3investor.com/blogs/candlestick/114110.jsp

Cheers,

Ming Jong

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