Eben@CANSLIM ResearchONTO is holding a Stage 2 uptrend, trading at $351.16 with price above its rising 30-week moving average and 7 of 8 trend-template checks passing. However, the current base is a deep 42.3% correction over just 7 weeks, flagged as faulty with an elevated failure rate, and no VCP contraction sequence has formed. Sentiment is constructive but awaiting a breakout above the $378.45 pivot for confirmation.
Technical Analysis
As of 2026-08-17 · Close $351.16
Stage Analysis
Stage 2 (Advancing) — Price holding above a rising 30-week MA — uptrend intact (30-week MA 6-week slope: 7.79%)
Detected Patterns — What the Market Is Watching
- Deep Base (>33% — elevated failure rate) — depth 42.3%, length 7 weeks, pivot $378.45. Base formed from 2026-06-30 (left-side high) to 2026-08-17, with the low of $218.31 set on 2026-07-29
- Power Play candidate (strong momentum, watching for a tight flag to form)
⚠️ Faulty cup warning: the base is 42.3% 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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