The Worden T2108 , at 86%, is near the highest level it typically reaches on rallies. There were 437 new 52 week highs on Wednesday, the most since last July. Of the 34 stocks hitting new highs and having good fundamentals, eight had recent quarterly earnings gains of 100% or more: MON,TCO,MDCO,BCH,URI,ALXN,AAPL,WCG. Of these, TCO, BCH, ALXN, and AAPL are at all-time highs. As this weekly chart shows, TCO broke from a cup-with-handle base a few weeks ago. Click on chart to enlarge.
That stock you have looks more characteristic of Oneill’s double bottom formation. notice that the second leg is lower than the first.