PI Forms Deep Faulty Base in Stage 3 Topping Pattern

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

Impinj (PI) is consolidating in a Stage 3 topping pattern, with price churning around the 30-week moving average as the stock sits 29% below its 52-week high. The current base is a deep, faulty formation with a 62.2% depth over 40 weeks, which historically carries an elevated failure rate. The overall sentiment is neutral, and the trend template fails on four of eight checks, suggesting a wait-and-see approach until a clearer breakout or breakdown occurs.

As of 2026-08-17 · Close $171.71

Stage 3 (Topping) — Price churning around the 30-week MA — topping consolidation (30-week MA 6-week slope: -1.95%)

⚠️ Faulty cup warning: the base is 62.2% 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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