$CLBT With Huge Cup with Handle Breakout.

CLBT Beat on earnings with an 800% surprise and earnings growth of 1,000% as reported on November 14th. Cellebrite sells software to the Police, and all government entities. They state that: Cellebrite's mission is to enable its customers to protect and save lives, accelerate justice, and preserve privacy in communities around the world.

Now to the chart, I have charted this on the weekly timeframe, so the latest candle is only 2 days old. 4 weeks ago, CLBT broke out of the handle formation. It is now consolidating that breakout. The formal breakout that many use would be the height of the cup before the handle was formed. The breakout price for that is $8.29. Which is very close in price to the 18-month AVWAP. As of this moment it’s trading at $8.45. I have an alert set right at 8.60. Should that trigger, I will look to go long with a stop just under this week’s low of 8.09. That seems to be a good risk reward ratio to me. I do not set price targets, but I think it is possible to go back near all-time highs of around $11.50. Should that happen that is a 33% move! I can handle that.

Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.

Comment:

Here is the daily chart on $CLBT. I have decided to change my price alert to the slightly declining trendline which should coincide nicely with just over yesterday's high. Let's see what happens.

Trade active:

CLBT I have opened 1/4 sized position as this is breaking above the small downtrend line. My stop is just under the day low. It goes or I'm stopped for a small loss. Let's see what happens.

Trade closed: stop reached:

CLBT Stopped out for a 3.5% loss. Back on the watchlist.