alfredalcasid

Saucer Breakout/Cup and handle setup

NASDAQ:BGNE   BeiGene, Ltd
Saucer on from Oct 10 to Mid January. Heavy volume on January 18 due to an offering.

1.18.18 - BGNE teamed up with CELG, receiving rights to market CELG's drugs in China for the next 10 years. BGNE acquired $750m from the offering which looks positive for new R&D of their drugs.


Further analysis: Failed breakout at the 120 range on weak volume . Choppy trading but may try another breakout if consolidation occurs within the 118-124 range. If consolidation and 118 range fails, this may fall to around the 104-108 range for a possible cup-and-handle set up.
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