stock, I think a cup n handle requires the all time high to be the pivot point because if a pivot point is below that price level, there are long positions underwater from prior (higher) highs which will corrupt the processes which govern.
I have dealt with a lot of TA in years past, but RBY has foiled my TA multiple times.
I quit making TA predictions on RBY.
Hope you are wrong in my guesstimation, because you'll have a better chance of being right!
Hope this helps.
Following are important characteristic to look for in a Cup and Handle.
The cup always precedes the handle. As the cup develops, the price pattern follows a gradual bowl shape. There should be an obvious bottom to the bowl; a v-shaped turn is not a good indicator.
The depth of the cup indicates the potential for a handle and subsequent breakout to develop. The cup should be fairly shallow.
The handle tends to be down sloping, and indicates a period of consolidation. Consolidation occurs when the price seems to bounce between an upper and lower price limit. You can track the down sloping angle of the handle by drawing trendlines across the upper and lower price limits. If the price ascends outside of the trendlines, then it has the potential for breakout. If the price ascends beyond the upper, right side of the cup, then the pattern is confirmed, particularly if it is accompanied with a sharp increase in volume.
Volume tends to parallel the price pattern. Consequently, during the cup formation, as price descends, volume tends to decrease. Following a period of relative inactivity (at the bottom of the cup), the price pattern starts an upward turn and volume tends to increase.
During the handle formation, the volume decreases. However, you will notice an increase in volume when the price breaks out beyond the right side of the cup.
IBD is a good source for learning Charts
Sentiment: Strong Buy
Stock canines...... there are those on this message board that are @$$h01s and they wil always give a thumbs down to those who make reasonable posts....... never did understand the star thing.... but gave you a thumbs up.... have a great day.....
stock, I've said this before but I'll risk becoming tiresome thru repetition. As my grandfather told me early on in life, don't pay attention to what other people think until they demonstrate some capacity for thought. You asked a very good question irrespective of how people rated it. Unfortunately, I'm too ignorant on the subject of your question to have worthwhile response to it.