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.

Comments »