Here’s a great looking Biotech chart displaying all the things I am looking for. Regular readers should know what is coming next. You guessed it. A bullish ABC pattern set-up.
CLLS – Cellectis is offering a picture perfect set-up. As outlined in my chart annotations this is what the chart is offering right now:
- Flat base
- Huge thrusting move on tremendous volume
- Tight / Low volatility consolidation
- Decreasing volume during the contraction / consolidation pattern
As soon as volume starts to kick in the stock should resume its uptrend. The ABC pattern is really simple. In most cases the trend leading into the consolidation pattern resumes once the consolidation is completed.
Click on daily CLLS chart to enlarge:
Conclusion: The minimum technical target should be 50.00 $ when the uptrend resumes.
CLLS company description from Yahoo finance:
Cellectis, a biopharmaceutical company, develops cancer products based on engineered T cells armed with a chimeric antigen receptor for the treatment of liquid and solid tumors. Its lead product candidate, UCART19, is an allogeneic engineered T cell product for the treatment of CD19 expressing hematologic malignancies that developed in chronic lymphocytic leukemia and acute lymphoblastic leukemia indications. The companys products also include hematopoietic tumors, such as UCART123 and UCART33 for acute myeloid leukemia indications, and UCART-BCMA and UCART38 for multiple myeloma indications, as well as solid tumors comprising UCART5T4 for various solid tumor indications and UCART-EgfrVIII for glioblastoma indications. In addition, it is focused on life sciences to build products based on genome engineering technologies in various fields and markets. Cellectis was founded in 1999 and is based in Paris, France.
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