This Stock Is Poised For A Coinbase-Like Breakout Trade Setup

Coinbase shares are soaring 17% this morning after being included in the S&P 500, I have identified another stock poised for a similar technical breakout setup

Coinbase (Nasdaq:COIN) shares are soaring this morning on the back of inclusion into the S&P 500:

COIN (Daily)

Over the last couple months, COIN has formed a well-constructed head & shoulders bottom pattern. This morning’s news has triggered a breakout-gap higher from the completed bottoming pattern - the breakout targets further upside to $260+ in COIN.

I have identified another stock that I have been tracking closely that is poised for a similar breakout resolution. This is a company with a huge amount of cash on its balance sheet and multiple catalysts lined up over the next 12-18 months.