5 Bullish Biotech Charts

Watch the price action to confirm or refute these chart patterns

       

Bottom Triangle

7 15 13 appa 300x262 5 Bullish Biotech Charts
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Up next, A.P. Pharma (APPA) is a microcap biotech. Though the price movement is miniscule compared to other stocks, technical analysis can still apply.

A bottom triangle has appeared in APPA over the past 76 days. This pattern shows two converging trendlines as prices reach lower highs and higher lows. Volume diminishes as the price swings back and forth between an increasingly narrow range reflecting uncertainty in the market direction. Then well before the triangle reaches its apex, the price breaks above the upper trendline with a noticeable increase in volume, confirming this bullish pattern as a reversal of the prior downtrend.

Price Target: $0.62 – $0.66

Stop:  $0.30

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