GBA Presents: House of Gummy-!

[stonedinvestor]

Stoney I have a biotech that looks interesting.
Never heard of it, it's in Ireland.
ALKS $32.93
It's been on the move.

Shares of Alkermes Look Ready to Breakout
We may have seen a shift from weak hands to stronger hands.



Jun 20, 2023 | 11:17 AM EDT
Stocks quotes in this article: ALKS


Alkermes plc (ALKS) is a pharmaceutical firm focused on developing medicines that address serious mental illness, addiction and cancer. The charts are knocking on what looks like an important upside breakout.

In this daily bar chart of ALKS, below, I can see that prices bottomed in September/October/November and began a sustained rise. Prices now trade above the rising 50-day moving average line and the rising 200-day line. Trading volume was heavy in October and November at the lows and that suggests that we may have seen a shift from weak hands to stronger hands.

The On-Balance-Volume (OBV) made a low in October and is now close to making a new high for the year. A rising OBV line happens when buyers of a stock are being more aggressive than sellers with heavier trading volume seen on days when the stock closes higher on the day.

The Moving Average Convergence Divergence (MACD) oscillator is above the zero line and thus bullish.

In this weekly Japanese candlestick chart of ALKS, below, I can see the past three years of price action. Prices have stalled in the $32-$33 area in 2021 and 2022, but now it looks like ALKS can break out to a new high. Prices are in an uptrend and trade above the rising 40-week moving average line.

The weekly candles do not show me a top reversal pattern nor worrisome upper shadows. There was an upper shadow around $32 but the latest candle refreshes the uptrend.

The weekly OBV line has been rising from October and confirms the price gains. The MACD oscillator is in a bullish alignment above the zero line.

In this daily Point and Figure chart of ALKS, below, I can see an upside price target in the $44 area. A trade at $34 will refresh the uptrend.

In this weekly chart of ALKS, below, I can see an upside price target in the $37 area.

Bottom line strategy: Traders could go long ALKS on strength above $33 and $34. The $44 area is my first upside price target. $60 is my second target.


Nice spot! TA looks very strong-- look at On Balance Vol (my favorite metric)

I'm not up to date on pipeline/

 

[stonedinvestor]

Stoney you think GTLB Aug $50c at $3.3-.50 is a deal?

$42 July Puts are $1.05- GTLB

 

[TrailerParkTed]

$42 July Puts are $1.05- GTLB

On 6-6 someone sold 1,750 contacts of Oct $50 calls. Underlying was $44.00. What does that mean?

 

[vanzandt]

South American ETFs were taking out highs. While Chinese were basing stocks from ARCO to YPF are taking out the 52 Week Highs.

I saw that. What's up with Argentina? There were a couple stocks hitting new highs based out of there.

 

[vanzandt]

Shares of Alkermes Look Ready to Breakout
We may have seen a shift from weak hands to stronger hands.



Jun 20, 2023 | 11:17 AM EDT
Stocks quotes in this article: ALKS


Alkermes plc (ALKS) is a pharmaceutical firm focused on developing medicines that address serious mental illness, addiction and cancer. The charts are knocking on what looks like an important upside breakout.

In this daily bar chart of ALKS, below, I can see that prices bottomed in September/October/November and began a sustained rise. Prices now trade above the rising 50-day moving average line and the rising 200-day line. Trading volume was heavy in October and November at the lows and that suggests that we may have seen a shift from weak hands to stronger hands.

The On-Balance-Volume (OBV) made a low in October and is now close to making a new high for the year. A rising OBV line happens when buyers of a stock are being more aggressive than sellers with heavier trading volume seen on days when the stock closes higher on the day.

The Moving Average Convergence Divergence (MACD) oscillator is above the zero line and thus bullish.

In this weekly Japanese candlestick chart of ALKS, below, I can see the past three years of price action. Prices have stalled in the $32-$33 area in 2021 and 2022, but now it looks like ALKS can break out to a new high. Prices are in an uptrend and trade above the rising 40-week moving average line.

The weekly candles do not show me a top reversal pattern nor worrisome upper shadows. There was an upper shadow around $32 but the latest candle refreshes the uptrend.

The weekly OBV line has been rising from October and confirms the price gains. The MACD oscillator is in a bullish alignment above the zero line.

In this daily Point and Figure chart of ALKS, below, I can see an upside price target in the $44 area. A trade at $34 will refresh the uptrend.

In this weekly chart of ALKS, below, I can see an upside price target in the $37 area.

Bottom line strategy: Traders could go long ALKS on strength above $33 and $34. The $44 area is my first upside price target. $60 is my second target.


Nice spot! TA looks very strong-- look at On Balance Vol (my favorite metric)

I'm not up to date on pipeline/

First you said MACD was your favorite indicator, then it was RSI, now it's OBV. When does it switch to OCD?

Ya know on Rivian this morning... and I knew you'd take the opportunity to slam a bad call out of VZ at any chance you can get.... rare as they are.... I am not even gonna explain why I screwed that up because you'll never believe me. But it is 100% true lol.

Rivian Automotive, Inc. (RIVN)- Is lunch over yet?
NasdaqGS - NasdaqGS Real Time Price.
14.62-1.08 (-6.88%)

If you ask nice and promise not to say "bs" I'll share.

 

[vanzandt]

Stoney...
Remember that stock you lost your ass on in both options and the stock itself, that of course VZ tried to save you on and you didn't listen to? ... Logitec

I'm surprised you haven't post this yet. Their BOD approved a $1B buyback over 3 years. The stock went up nicely in the ah's on the news.

Of course announcing a buyback doesn't mean they'll do it.

 

[TrailerParkTed]

I saw that. What's up with Argentina? There were a couple stocks hitting new highs based out of there.

I need to do some research on Latin America and South America. Argentina has incorrigible high inflation, who knows? It’s such a beautiful place.

 

[stonedinvestor]

Majorca is nice. But I think I have the place. I am planning a trip next year. The Island of Ischia off Naples. So you fly to Naples stay a day or two go to the ferry and take a 1 hr ferry.

Weird day. My bro hit me up a full three days after my birthday and pretended it was normal. This is the first year I can ever remember he hasn't rung in with the family and made a deal about it. At the time I probably cringed at those group phone calls now I'm like what the fuck no call.

The sub thing is really horrifying. Imagine being locked up with your son and seeing him die and vice versa it's too much.

In the last CPI I found the number but all of my research is in the bedroom right now-- but core inflation WENT UP... not down. The reporters missed this. We inch up towards 4% on the core.

What was the exact number I gave you when we embarked on this tightening--- 4% Inflation would stick, we would dip beneath and then start ticking up....

 

[stonedinvestor]

US Curve Inversion Deepens to One Percentage Point After Powell

 

[stonedinvestor]

--SoundHound price target raised to $6.20 from $2.80 at Cantor Fitzgerald » 07:03 SOUN

--Commercial Metals expects 'strong' financial performance in Q4 » 07:02 CMC

--Enel Chile upgraded to Buy from Neutral at BTG Pactual » 07:07 ENIC

--Humacyte initiated with an Overweight at Cantor Fitzgerald » 07:01 HUMA

--Citi opens '90-day positive Catalyst Watch' on Boston Scientific » 06:18 BSX

--FingerMotion initiated with a Buy at Benchmark » 06:15 FNGR