Now this stock took off at the end of 2020, climbing 42% from November to mid-December.
Instead of chasing it, Ross has been watching like a hawk for a pullback to enter…
And his powerful trading roadmap has identified the perfect entry at its point of control:
What's more, the chart is shaping into a textbook cup and handle pattern.
This pattern was popularized by trader and author William O'Neil in his book, "How to Make Money in Stocks."
O'Neil identified four stages for a proper cup and handle breakout:
The security posts a significant high in an uptrend that accelerated between one and three months prior…
The next pullback carves out a rounding bottom no deeper than the 50% retracement of the prior trend. This marks the "cup"...
The next breakout attempt fails at the prior high, yielding a secondary pullback that holds near resistance, grinding out a smaller rounding bottom, which becomes the "handle"...
Finally, the security returns to resistance for the second time and breaks out, yielding a measured move target equal to the depth of the cup.
As you can see, this stock's chart meets all four of these criteria beautifully:
Now if you're a fan of the cup and handle pattern, you'll be happy to know that the same pattern is present on a weekly chart…
And Ross is anticipating a potential move up to the $31 dollar area, a nearly ten-dollar move from where the stock trades today.
Of course, this roadmap is the same one that's led Ross to trades that have yielded returns of 137%, 269% and 913% this month alone…
Market Traders Daily Director of Client Services 888-228-2376
Disclaimer:Futures, forex, stock, and options trading are not appropriate for all traders. There is a substantial risk of loss associated with trading these markets. Losses can and will occur. No system or methodology has ever been developed that can ensure returns or against losses. No representation or implication is being made that using any of these methodologies or systems will generate returns or ensure against losses.
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