Good morning all

A share for the "UPS"

BGT - Mid 11p
Reason - Moving higher after bottoming at 9.25p last 3 days. Had retracement now oversold. A placing recently at 11p and finances look better after that. Lara Croft-Tomb Raider the Action Adventure, is on sale in most major retail outlets said at the AGM yesterday

I did do a chart last Tuesday on the "UPS" thread, and is now coming true.....

UPS (Added by Master RSI on Thu 16 Nov 08:06 am)

QFI - Mid 18p
Reason - After the latest rise and later the retracemt, now is ready for the next stage on the forming of Inverted Head and Shoulderon chart, up to over 19.50p will be a BREAKOUT and then the target short term should be 22p as indicators are rising

BGT 11p =

The chart is suggesting not other than a CUP & Handle on progress, and is seven weeks doing the handle so is time for the turn UP


Definition of Cup and Handle
A pattern on bar charts resembling a cup with a handle. The cup is in the shape of a "U" and the handle has a slight downward drift. The right-hand side of the pattern has low trading volume. It can be as short as seven weeks and as long as 65 weeks.

As the stock comes up to test the old highs, the stock will incur selling pressure by the people who bought at or near the old high. This selling pressure will make the stock price trade sideways with a tendency towards a downtrend for four days to four weeks... then it takes off. Below is an example of a cup and handle chart pattern:

A couple points on trying to detect cup and handles: Length - Generally, cups with longer and more "U" shaped bottoms, the stronger the signal. Avoid cups with a sharp "V" bottoms. Depth - Ideally, the cup should not be too deep. Also, avoid handles which are too deep since the handles should form in the top half of the cup pattern.
Volume - Volume should dry up on the decline and remain lower than average in the base of the bowl. It should then increase when the stock finally starts to make its move back up to test the old high. Retest (of old high) - doesn't have touch or come within a few ticks of old high. However, the further the top of the handle is away from the highs, the more significant the breakout needs to be.

Midday Market Roundup

        LUNCH TIME FUN

BFC 45 - 47p +5.5p

the bounce is back on volume trade

VER 60.25 - 61p +0.50p

maybe this time is for the turn

End-of-day Market Roundup

        JOKE OF THE DAY

Hard of Hearing
Morris, an 82-year-old man, went to the doctor to get a physical.

A few days later the doctor saw Morris walking down the street
with a gorgeous young lady on his arm.

A couple of days later, the doctor spoke to Morris and said,
"You're really doing great, aren't you?"
Morris replied, "Just doing what you said, Doctor,
'Get a hot mamma and be cheerful.'"

The doctor said, "I didn't say that.
I said you got a heart mummer and be careful."