SPH – Cup and handle?

A quickie post. I own some SPH shares in my CPF portfolio. A very nice cup and handle formation in the making. Some may see it as an ascending triangle. Regardless, the resistance cum breakout point to look for is at 4.20.  If it does happen with conviction,  a breakout could see a price target of 4.4-4.5 based on the triangle breakout. The keyword here is, IF it breaksout. A cup and handle implies a possible and impending breakout for the counter but till the resistance cum breakout point is taken out, the formation may fail. Trades should be entered upon breakout and confirmation on the completion of the formation.

Till the breakout of 4.20 comes to fruition, keep this in the watchlist.