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C&J Energy Services, Ltd. Message Board

  • apdplus apdplus Oct 27, 2012 7:16 AM Flag

    CJES Cup and Handle

    On a weekly chart, we first need to disregard the first 11 weeks since IPO since those 11 weeks the whole industry collapsed toward Oct 2011.
    Anyhow since Oct 2011, chart looks like a cup-left side rising to Dec. 2011, right side of the cup Sep. 2012 and the last 6 weeks looks like a handle- lower volume sliding down bouncing at levels seen as the top of the center of the cup (usually a place where a handle should not breach.
    That being the case, breaking the top of the cup at $23 (hopefully next week), will mean go up to $32-33 which is the same rise as was the depth of the cup ($23 to $16)

    Sentiment: Strong Buy

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