So $CIDM just completed at great "Cup-Handle-Pop" at 11:39. If you look closely, this pattern actually has a "meta-Handle." There is a cup at 10:45 to 11:15, with a following handle, but within the handle is another cup-handle pattern. I'm finding when a cup-handle completed on another "meta-handle" (and rarely a triple handle), these can pop/squeeze huge.
One of the key things I look at now are
1) a nearby resistance. Here: we have the VWAP. This acts like a rubber band. The cup-handle-pop will give it momentum, and it breaks the rubber band it will sling-shot up (hence the squeeze).
2) I prefer "Intraday runners" (this is actually a loser, but the pattern fits)
3) I am now using MACD for entry/exit signals. I would have actually entered this play at 11:35 at around 2.56 and set my risk to bottom of the current handle (2.51). This a momentum play, the second the pattern fails to be cup-handle-pop, I'm out.