Taliworks Cup & Handle

The ChargingBull & Pitbull have been discussing the possible formation of a Cup & Handle in Taliworks & they are right, it looks like a very nice formation. The handle is tapering down but prices remain above the half way point of the cup (1.56). Volume is also low, which is preferable at this stage. As CB says this is possibly accumulation by players.

Daily MACD & RSI are tapering down but both their weekly are up. This is to be expected as volume on daily accumulation is low & daily prices are falling slowly. This pattern will breakdown if prices fall below 1.56. Players can accumulate at this stage but risk averse players should wait for breakout above the 1.80 level for confirmation. Cut loss will be 1.55 (thats about 10% below today's price).