TGUAN (7034),  a strong fundamental stock with a nice up-trending chart. 

A shown in TGUAN's monthly above, the price has risen from 0.6 in 1998 to above 4.0 this year (2017). A rounding bottom plus a flag breakout (or AB <==> CD) patterns have been fulfilled.

It is at the top with some long shadows pointing up, which looks a bit toppish on this monthly chart.

Now, let's take a look at the daily chart above. A first glance we can spot a cup and handle pattern (illustrated in blue) where the current price is hitting the neckline, as boxed in red. Should it break the neckline, the target price is 4.9-5.0.

A second look at this structure, there is a possibility to turn to a double top if the cup and handle pattern fails to break and initiates a leg down to the purple support line.

A safe bet is to only buy when TGUAN breaks above the neckline. If it turns another direction and drops below the green circle area, we will need to be careful as it might become a double top pattern.

TGUAN (7034): Bullish

Pattern: Cup & Handle Hitting The Neckline

I am bullish on TGUAN and think the cup and handle breakout possibility is higher based on the structure.

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

Entry Setup Illustration - http://klse.i3investor.com/blogs/candlestick/113605.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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