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ABCL - Cup & Handle Breakout Trade

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AbCellera Biologics Inc. (NASDAQ:ABCL)  
rossgivens  
NASDAQ:ABCL   AbCellera Biologics Inc.
Chart Patterns Beyond Technical Analysis Technical Indicators ABCL cupandhandlepattern cupandhandlebreakout cupandhande cupwithahandle breakout breakouttrading breakoutsignal Contains image
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chartpattern beyondta indicator abcl cupandhandlepattern cupandhandlebreakout cupandhande cupwithahandle breakout breakouttrading breakoutsignal containsimage
Abcellera Biologics is a biotech stock setting up in a textbook cup with handle pattern.

The stock has growing institutional sponsorship as shown in the chart from MarketSmith on the chart. It also has a relative strength ranking of 97/100.

Shares formed a cup with a 37% depth and have since drifted back slightly to form a defined handle.

I will consider buying on a break above the dashed downtrend line of the handle.
Penafian

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