As shown in the chart... Mimecast stock is expected to bounce from the up trend which was formed during March 2020 (COVID Crash).
Now it's developing a rounding bottom pattern which will eventually (as per my view) create a cup and handle formation where the neckline will be the blue line drawn at 48.72 resistance level.
My target price will be in the pink area shown in the chart (between 61.6 and 68.6)