Stalking an Entry Into Ariad Pharmaceutical

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The pharmaceutical space has been on fire for a long time. But in that uptrend some stocks have struggled for various reasons. Ariad Pharmaceutical, $ARIA, is one of them. After a gap down in October last year it just drifted lower over the last 7 months.

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But the chart above is showing signs of a rounded bottoming. With the double touch at 5 in July and then in October the downside may be done, In fact the price is only about 20 cents away from making its first higher high since January. And with the confluence of the SMA’s below as a natural stop, it is on the radar for a trade. Potentially a long term one. The RSI is rising as well and the MACD signalling higher.

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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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