KTOV Cup and Handle

Disclaimer: Not finical advice.

So notice a cup and handle formation built on KTOV. With green markets I can see it matching the cup at minimum to around 1.38. If news comes out about a collaboration I can see it reach the 1.60-1.70 resistance. If markets are overall down, I don't like this play thru.

I'm new and treat trading as a hobby, just looking for thoughts on the idea. I like to keep it simple