Cup and Handle Pattern: Shanda Games?
DISCLOSURE: Varchild2008 owns 1704 shares of (GAME) But seriously? Just check my profile for disclosures on what stocks I own with real money.
Jim Cramer on Mad Money right now is talking about (SLB)'s Cup and Handle Pattern.
He describes it as:
1) A BIG!!! dip (the cup)
2) Then Rally!!!!
3) Then a slight dip to sideways trading activity
4) Then the start of a new Rally higher!!
So... Take a look at your stocks in your portfolio and take a look at 1 of my stocks in my portfolio.
Is (GAME) experiencing a Cup and Handle Pattern?
The reason I ask is not to suggest you should buy or sell short this stock. Rather, I just want to be told by some expert Techie person that I am correct to think like (SLB), (GAME) is in Cup and Handle Pattern.
Is it? Would help me greatly here to affirm that it is so I know that I can accurately spot patterns here.
In the meantime..... I agree with the recent Motely Fool article concerning (NTES). I wouldn't *yet* be concerned about the new online video games from all sorts of China Video Game companies that are going to surface this year as competitors to World of Warcraft.
The WOW story is not over yet in China, regardless of the success of future new video games from NTES competition.
(PWRD) is releasing new stuff this year
(GAME) is releasing new stuff....
(CYOU) same thing....
(GA) Same thing..
Last year was a year of slow growth compared to what I think the online games market will do in China this year as so many new games come out of Beta/Alpha testing.