SXX cup and handle breakout

This one looks like a cup and handle breakout may be forming. This has to finish the day above 25.25 .
Its currently testing the resistance level for the top of the cup.If it does breakout then this could go as high as the highs at 37. SO good risk to reward on this
this is a penny share so usual warnings.
DYOR



dl.dropbox.com/u/4899609/sxx13thdec.png

Yep, I've also been watching and waiting for what seems an eternity for a close above 25.25p on this share. It's probably my favourite AIM share because it's technically pretty good if a bit slow.

37p is also a nice target from the depth of the cup (ascending triangle) and the all time high.

Remo/ Jackozy
Once this one breaks out where would you place ur stops, would that be under low of breaking candle?
Thx

Hi ftse80,

Yes, that sounds OK to me for a tight stop once it's closed above 25.25p.

Hi guys,

I too have been waiting for what seems an eternity for this to close above 25 and now that it looks like it may do I have my doubts as to whether to trade it for the following reasons

Looking at the candlestick pattern it would seem to be a hanging man if it closed where it is now.
and on the daily the rsi looks to be in overbought territory.

If I then look at the hourly on the macd histogram there is a divergence with the price action and the same with RSI and CMF indicators.

What do you guys think?

Or is the cup and handle breakout more powerful then all these other signals?