Cup and Handle Again

And I shall, thank you. Once again, you are looking at a C&H forming at a bottom. While you did offer one such example of same, this is not exactly a "classic" as you put it. I would call your attention to your own choice of indicators (though I would not ever use your parameters for same..other than RSI).

However, if there ever was a viable C&H bottom, I have to admit this would be a "non-classic" example. You at least have some time involved. For the pattern to mean anything much, time is important. You have a fairly broad lateral period with not a lot in the way of spikey price moves. (Which, BTW, were clustered about the "ghost" trendlines that I have posted in the Chartist Thread on numerous occasions.)

Now, the thing about C&H's that make them significant is not the shape of the things you see, but the dynamics of buying and selling that makes them noteworthy. Then there is the time frame. Daily bars are not all that significant. They perhaps portend things that might happen in a week. Weekly bars, OTOH, might hold a clue to what might happen in a month.

And your parameters are (with the aforementioned RSI), not particularly good choices.

Since nobody else is watching here, I could suggest Stoch 5-3-3 and Macd(H) 5-20-9. I would use those on the daily, weekly, or smaller time frames than the daily.

On the weekly view, your C&H doesn't look anymore impressive than your first C&H, shapewise. My stoch is in overbought territory, and RSI is piddling around the 30 level and beginning to dip down.

Stochastic is, excuse me for making a poor analogy, like the EKG of a stock. You have an impulse (a buying cycle), then you have the the corrective wave. Up, down, up, down. Daily can be contrary to weekly, but it doesn't necessarily change weekly..it's more a timing thing. However, the regularity of the Stoch is most often amazing.

Now, my assessment of things is that OPK is going to languish, perhaps decline back to the higher "ghost" trendline, while waiting for the FDA news. Then it will once again try to best the 200ema. That will be the fulfillment of the 2-4 weeks I have previously posted. And that will look to you as a C&H breakout of sorts. But there is a lot of resistance in the 11 to 11.50 area and more just above.

It might all work out as you envision. If it does, you can add the second example of a C&H bottom. But again, it is not the shape of the pattern that gives it the mojo, it is the dynamics of buying and selling (which works much more often when the C&H) comes after a significant advance.

Meantime, focus on the stochastic 5-3-3, both daily and weekly.

And now I'm going to do some reading of fiction filled with spies and violence. You know, just for the betterment of mankind.

Hey Ice, Resistence levels based off fibbioncci patterns are now at 10.21@ 15X confluence, 11.12 and 11.41 both at 2X confluence.

Last week 11.36 was at 12x.  

I'm seeing this as buying pressure to to upside.