And get a thumbs down for Free Intel!!! Well, for the decent folks, here:
Chapter 4 - Key Points
A base pattern occurs when a stock's price falls and consolidates over a series of weeks or months.
Bases typically form after a prior price uptrend of at least 30%.
The base serves as the foundation for the stock's later climb - sort of like the foundation of a house. If it's not solid, it can make any levels built above it unstable.
A cup-with-handle base is one of the most powerful base patterns.
Base shape: resembles a teacup as seen from its side view.
Base length: lasts at least seven weeks.
Base depth: usually 15% to 35% but may be deeper if it forms during a bear market.
Base characteristics: cup preferably has a smooth “U" shape rather than a sharp “V" shape.
Buy Point calculation: ten cents above the peak in the handle.
Length: five days or more
Depth: generally 10% to 15%
Should drift downward as volume dries up.
Should form in the upper half of the base.
Potential flaws in a base.
Racing straight up from the bottom of the base to new highs.
Wide and loose price swings.
Wedging as the handle forms.
Handles that form below the midpoint of the base.
Hey Atty, was at gym and grabbed a bite. Is this the post that defines a "buy point"? Thanks for the post. Seems like your definition is a bit like a channel. Maybe you posted the "buy point" definition and it didn't post. Thanks again, I wasn't ignoring your efforts.