The generic pattern looks like a rounded cup with a small handle and represents a breakout through a triple top. Price rallies into a first high, reverses and then pulls back to form the left side of the cup. The issue eventually finds support and builds a sideways base. A new rally erupts and rises toward the old high. This forms the cup's right side.
Sellers appear at the double top and the market pulls back a second time.
The next decline draws the smaller handle as price again stabilizes, but this time at a higher level than the last retracement. It then rises into a 3rd rally and breaks out sharply to new highs. The cup takes approximately 3 months to form, while the handle does its job in just 1 month. Look at the market mechanics beneath this pattern. After the first high, price pulls back sharply before it bounces.