Looking for Alkermes PLC to break out of Squeeze

Looking for Alkermes PLC to break out of Squeeze

30

June 2021

By

Alex Cole

Alkermes PLC has been consolidating from its recent high.

In a "Go" trend since April, price has made a few strong legs higher and each time price has consolidated we have seen the GoNoGo Oscillator crash to the zero line.  As you'd expect, the GoNoGo Oscillator has found support at this level and ultimately momentum has returned in the direction of the trend.  Currently, we see that the climbing grid of the GoNoGo Squeeze has risen to its extreme and we will look to see in which direction it will break out.  If the oscillator moves into positive territory we will see a low risk Go trend continuation green icon underneath price.