"If I am not mistaken, the price would need to reach 40 and then break higher with volume for a cup and handle to be confirmed. It's setting up nicely for one though."
yes, that is a good point. low 40 would be a buy point for sndk, as long as the market confirms.
Also, check dna as an example. breakpoint was 60. Thus, a popular approach (one i like) is to buy this stock at 60 (with mental stop loss below), and average up. Target here 150 or sell at end of primary move (1 1/2 year from aug 04 nasdaq low).
There are examples where they don't work, so mental stop loss is important.
Just one idea
Me, i like to catch the bottom of the base formation with out of the money call leaps and hold for the primary move. more risk but more reward.
Thanks for your expert chart analysis. At first, I just wanted to find out how high SNDK would go in the long term; When I zoommed out to the 5 year chart, I thought I saw a cup and handle. This is awesome!
Sndk target 160 - 200! if one looks at the forerest instead of the leaves. Dreaming ? no; Like the chartists say: if enough people believe in it, it will become a self fulfilling prophecy.