QUOTE(Boon3 @ Aug 15 2016, 06:34 PM)
LOL!
I have said before...
in charting ...
everyone tend to see what they see....
Look carefully at your initial cup drawing....
personally I do not like the formation of the cup....
it's lopsided to one side...
such cups like this...
tends to be lembik....
so say we accept that as the cup...
the top or the brim of the tea cup is around 41 sen (or 40.5 sen... give or take la)
now the handle...
look at the handle...
ie... from 41 sen to 37.5 sen...
when the stock rallied from the bottom
ie from 37.5 sen to 41 sen...
the trading buy would have been 41 sen...
on 2nd Aug...
right there and then....
would have been your cup and handle formation...
and the stock should have rallied higher than 41 sen on 2nd Aug.
Did it?No it did not...
instead it formed the other boob that you had hamsaply drawn....

this is what I see....

I second that. Lol, I only bought it due to the quarterly results hype due for this week, after that, we're finished business.
Anyway, I have also seen that some cup with handle formations are perfect. However, failed to break to the upside and just went sideways.
The thing with TA is that it can go one or two ways. While it works most of the time, it can also fail (while the percentage is small). Yes, that is coming from a person who also uses TA albeit only on 5 minutes to 1 hour candlesticks.
But experience-wise, I can see AAX rebounding again (sideway trend forming on a 1 month chart) but it is unclear whether it can break 41.5 this time or not as it has been tried several times but to no avail. I'll save the support set at 39 with a heavy resistance at 41.5. If the resistance breaks through, it can fly up.
Just my opinion.