Don't pay dollar to keep 2 cents when wrong. Cut your losses quickly. Trade what you see, not what you think.
Joined Oct 26, 2011
719 Blog Posts

Is $ATRS ready for a Cup and handle breakout?

I believe so.

Let’s start with the weekly chart:


Did you see the general long-term uptrend?  However, I like to see price action takes out the Jan 11th high and close above that to confirm a continuation of uptrend after the correction from July of last year.

Now, let’s take a look at the daily chart:


Did you see the handle?  While the handle is still lower than the rim of the cup, I still think the pattern is valid.

Fundamentally speaking, who doesn’t like a needle-less injection?

$ATRS announced acceptance of the OTREXUP New Drug Application (NDA) by the FDA.  And the FDA has assigned a prescription drug user fee act (PDUFA) target date of October 14, 2013.

The speculation of an approval could fuel a run from here.

I bought $ATRS today looking to see a breakout from the cup and handle pattern in the next few days.

My 2 cents.

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  1. tpain

    Very nice post. I took the trade at 4.22 and just exited at 4.36. Thanks Zen. It may have some juice left in it, the weekly chart looks strong.

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    • Zenhunter

      Thanks Tpain. Glad to hear you made money on this trade.

      Meanwhile, I’m holding this a little longer for a bigger payout…


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