You are about to witness emotionless supercomputers controlled by anonymous international bankers erase 4 years of BS QE pump, shortly followed by the destruction of our floating bloated fiat currency. GLTA you are going to need it...
Additionally, the likelihood we are looking at a double top is further doubtful as one can plainly see we have broken through and closed above the upper Bollinger Band on the right spike of the cup formation. 80/20 my way.
Thank you sir. Now we have a legitimate basis for discussion, cup and handle vs. double top. Lets set the odds at 50/50 one of us is correct and certainly time will tell who is correct. I will obviously take the former and bull case cup and handle.
Here are the further contributing technical and fundamental factors that I believe push the odds in my favor:
Technical: 50 day MA crossed 200 day MA in early June. 50 day support tested at bottom of cup formation and held. Trend is up. Bullish.
RSI at 58.33 after recently bouncing off 70 indicates trend will continue. Bullish.
CMF/MACD: In the past 6 months the share price has remained stable while CMF negative. The negative money flow looks to be at its short term limit after a money flow reversal correlating with an overbought RSi in August. MACD, though close to a center line crossover, is still positive.
Conclusion: Watch CMF in correlation to MACD if/when crossover occurs. IMO CMF will trend positive from this point on while traders look to accumulate shares if/when MACD dips.
Fundamental: Resent partnership with Roche, terms solidify financing certainty minus dilution. Strong pipeline. Knowledgable management. Additional partnerships (DHS, MHRP, Merck etc.). Break through medical therapy and treatment in burgeoning industry. Strong patent portfolio.
Should I go on?
I believe these technical and fundamental points tip the odds in my favor at least 70/30 we are looking at a cup and handle formation.