Is this an upside down cup forming? I don't think it will materialise as there are too many other factors that are bullish, however the techincals seems to indicate it is possibly happening. if it does, then I'll buy some more in the dip as I think it will be a huge bargain. Not advice, do your own DD
Looks like price is following the channel. I'll be very glad if we close above 233 today, indicating that the upside down cup won't be an issue.
Notice the upside down cup (In red), if it breaks out (red dash lines) then it may present another buying opportunity around $50
I think it is too early to call a breakout, we need volume. Also notice an upside down cup and handle has just completed, so technically it can go anywhere from here. I'm long, however it develops, as I like the new management and what they are doing with the company.