Cup and Handle

Nov 5, 2022

This is a long-term idea. Based on the cup and handle that has formed for OP, it is playing out so far, slowly and surely. I see a rising wedge on the daily which may push OP down to $0.86 or get a bounce at the bottom of the ascending level of support $0.70-$0.86 If price holds and rides the ascending level of support it may find resistance at $1.40 and come back for support which would form a blue ascending triangle and push OP higher if it breaks out to the upside to $2.75 or so, wherever it breaks the neckline. Which would breach $2.205 which is the neckline for the cup and handle / ascending triangle if it forms. And then 100% confirmed the cup and handle has a target to $10 if it can flip $2.205 into support.