CGNEX Stock Tickeron detected bearish Mutual Fund Pattern: Broadening Top on May 08, 2024

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Broadening Top

CGNEX - American Funds Growth and Inc Port 529E

Emerged: 05/08/24

Breakout: $17.85

Price: $18.34

Target price: $17.37

A.I.dvisor detected a bearish Broadening Top pattern for CGNEX stock. This pattern was detected on May 08, 2024 . The odds of reaching the target price are 6. The Broadening Top pattern forms when a security price makes higher highs (1, 3, 5) and lower lows (2, 4) following two widening trend lines. Consider selling the security short or buying a put option at the downward breakout price level. When trading, wait for the confirmation move, which is when the price falls below the breakout level.

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These past five trading days, the mutual fund lost 0.00%.

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