Intra-Cellular looks Stellar

• Posted by Greg Harmon
• on November 10th, 2015

When you pop Intra-Cellular Therapies ($ITCI) into Google is shows a map with their headquarters located at the Water Club Restaurant in Manhattan. Not to shabby, and convenient for a bite to eat. And maybe they can afford it after the stock drove higher, doubling on strong results of a drug trial in September.

Since that time it has pulled back, but found support at the peak in July before rebounding higher. Now it has risen to 53.50 and is consolidating. Support continues to rise though along a trend line, making higher lows. This type of price action sets up for an energy fueled release to the upside.

The momentum indicators have held up very well through consolidation. The RSI is strongly in the bullish zone, while the MACD is crossing down but almost moving sideways. One measure would put a target at 59 on a break higher. The embedded AB=CD pattern looks even higher to over 70. And there is fuel from the short interest too which is over 10%. Maybe its time to make your own intra-cellular connection and buy it.

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