Trader's Logbook

Will SGI explode anytime soon? Today we saw SGI went up as high as 2.54 but settle at 2.40 Does the bears feeling the presence of the bulls now? Or we still need time to construct the handle of our cup? The Cup with Handle is a bullish continuation pattern that marks a consolidation period followed by a breakout.

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. (http://www.investopedia.com/terms/c/cupandhandle.asp)

Caveat!