Replies to post #49086 on Avid Bioservices Inc (CDMO)

[MobyInvestor]

Senrex,

I see what you're talking about but, the cup w/handle as defined by IBD is a continuation pattern during an uptrend that can be as short as 7 weeks and as long as 65 weeks. However, the most common duration is 3-6 months.

If anything, what you're pointing to is more correctly called a saucer bottom. But, that as well as the cup fit within the classic triangle pattern where you have a series of higher lows along with a well defined level of resistance above. As the right side of the triangle converges on resistance look for a potential breakout.

Regards,

moby