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Sirtex Medical (SRX) is forming a cup and handle pattern of a much larger weekly chart cup and handle. This pattern is generally considered a bullish indicator. SRX has rallied after a period of consolidation up to its neckline of $3.25 and has retraced 50% Fibonacci of that move back onto support. With SRX now looking to trade above its short term resistance (blue line) a break of $2.91 would project a target zone of $4.00 - $4.50 and resistance. The calculated target is a cluster of the cup and handle pattern projection, made by flipping the cup on its neckline axis, and the swing equality measurement of the AB wave to give the C target zone.