IDXX Labs Settings Up For a Cup-Handle Breakout

17 Şub 2020

IDXX is forming a cup and handle breakout pattern. What's interesting is the cup's highs were long-term resistance at all-time-highs. So, a breakout leaves no resistance in the way of a rally.
I added a trend-based Fibonacci extension to try and get a price target, and it printed between $300-$307.

For trade updates, DoozyTrader on Twitter.

22 Şub 2020

İşlem elle kapatılmış

As expected, price action broke out higher than $291 with volume. Unfortunately, a correlated high magnitude market correction took place on Thursday and Friday, driving IDXX lower. The trade has been closed as the pattern was invalidated.