9pin

ATHX Update

NASDAQ:ATHX   None
1
Triangle fails & ATHX trades to 50 week moving average, prints hammer candle & follows through on reversal. Since Jan2013 the 50 wkma indicates strong support. Price pattern sets into megaphone during biotech sell-off beginning in Feb14. Last weekly candle, gravestone doji closing at the .236Fib of the recent run-up. (IF) a megaphone then time to trade up (ELSE) ATHX may setup into a down channel, likely to retest to 50wkma -or- the rising trendline connecting recent lows. Price reaction and news on the 8May earnings call are nearest term catalysts. UC Phase II results are also in-play soon. RE Gravestone - (Investopedia) This pattern is commonly used to suggest that the direction of the trend maybe be nearing a major turning point. It can also be found at the end of a downtrend, but this version is much more rare. (note the volume on the weekly GSD)

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