LENZ **Rare Opportunity"
Pattern: Cup and Handle Formation
Bias: Bullish
LENZ has developed a well-defined Cup and Handle on the weekly timeframe. The bullish breakout confirmation comes with a sustained close above the $38.93 neckline, which aligns with a multi-year resistance zone from its post-IPO decline.
Neckline (Bullish Trigger): $40
Cup depth: Formed over ~3 years, showing prolonged accumulation and seller exhaustion
Target 1 (TP1): $64.40 – First major resistance and measured move projection
Target 2 (TP2): $89.04 – Historical supply zone
Key support: $27.62 – EMA confluence & structural base
Trade Idea:
Entry Zone: Above $38.93 (confirmed breakout close or retest)
Stop Loss: Below $34 (breakout invalidation)
Note: Weekly cup-and-handle breakouts often run for months when backed by volume expansion. Keep an eye on biotech sector sentiment and company-specific catalysts, as these can act as breakout accelerators.
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no pain, no gain
Unveiling illusions, revealing wealth
Unveiling illusions, revealing wealth
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.