FN Deep Base Pattern Emerges as Stage 2 Uptrend Holds above Key Averages

Posted on by Eben@CANSLIM Research
FN daily stock chart with 10, 20, 50, 150 and 200-day moving averages, volume and RS line versus SPY — CANSLIM Research

Fabrinet (FN) is trading at $570.22, maintaining a Stage 2 advancing trend with price above its rising 30-week moving average. The market is focused on a deep base pattern, showing a 44.5% depth over 13 weeks, which carries an elevated failure rate and is flagged as faulty. Overall sentiment remains constructive, but traders await a confirmed breakout above the $746.47 pivot.

As of 2026-08-14 · Close $570.22

Stage 2 (Advancing) — Price holding above a rising 30-week MA — uptrend intact (30-week MA 6-week slope: 0.88%)

⚠️ Faulty cup warning: the base is 44.5% deep (above the 38–40% threshold). A correction this deep leaves heavy overhead supply — trapped holders from higher prices are likely to sell into any rally, raising the failure rate of a breakout from this base.

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