Cup With Handle: Classic Bullish Pattern

Of all the bullish chart patterns bases and add-on points alike the classic seems to be the cup with handle. It’s the most successful pattern, likely because it represents some elements of human nature.

The pattern must run at least seven weeks from the stock’s prior high. Sometimes the pattern can take months or more than a year to take shape.

The cup should be no deeper than 35%, though that limit can be stretched in a bear market. The market crash of 2008 made for some deep yet adequate bases in the context of that severe decline.

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Like any base, the stock must show a prior uptrend of no less than 30%, or 20% from a previous breakout. Ideally, the left side is constructed in a not-too-sharp manner. A sudden plunge makes for a somewhat flawed left side.

In the same way, a sudden surge to create a right side is also a flaw. If the stock has both, it is said to be a V-shaped base, prone to failure. [Read the full article]

ConocoPhillips (NYSE:COP – News) today announced a quarterly dividend of 50 cents per share, payable March 1, 2010, to stockholders of record at the close of business February 22, 2010.

ConocoPhillips is an integrated energy company with interests around the world. Headquartered in Houston, the company had approximately 30,000 employees, $153 billion of assets, and $149 billion of revenues as of December 31, 2009. For more information, go to [Read the full article]

The board of directors of FPL Group, Inc. (NYSE: FPL – News) today declared a regular quarterly dividend of 50 cents per share of common stock. The dividend is payable on March 15, 2010, to shareholders of record on Feb. 26, 2010.

FPL Group, Inc. (NYSE: FPL – News) is a leading clean energy company with 2009 revenues of more than $15 billion, nearly 43,000 megawatts of generating capacity, and more than 15,000 employees in 28 states and Canada. Headquartered in Juno Beach, Fla., FPL Group principal subsidiaries are NextEra Energy Resources, LLC, the largest generator in North America of renewable energy from the wind and sun, and Florida Power & Light Company, which serves approximately 4.5 million customer accounts in Florida and is one of the largest rate-regulated electric utilities in the country. [Read the full article]

The following stocks were among those that moved substantially or traded heavily on the New York Stock Exchange or Nasdaq Stock Market Friday:

The company plans to split in two early next year, with one unit focused on consumer goods and the other on products for businesses.

The global industrial company returned to a quarterly profit, but results fell short of Wall Street expectations.

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An equity analyst boosted his rating and price target for the home-decor retailer, saying executive changes are improving sales.

Growing sales to corporations boosted fourth-quarter profit 20 percent for the security software maker.

The fiber optic and metal cable company posted a quarterly loss and its outlook was well below Wall Street analyst estimates.

Three private-equity firms are buying the corporate e-learning company, which is based in Dublin, Ireland, for $1.1 billion in cash. [Read the full article]

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