Shares of Harmony Biosciences ( HRMY) were rated a new buy by a sell side firm Thursday with a $64 price target. I have some technical price targets for HRMY, so let's compare notes.
In this daily bar chart of HRMY, below, we can see that prices have surged to new highs from a broadening pattern (similar to a backwards triangle) where prices swing up and down in higher highs and lower lows. Prices are now above the rising 50-day and the rising 200-day moving average lines.
The daily On-Balance-Volume (OBV) line shows a rising pattern the past 12 months telling us that buyers of HRMY have been more aggressive. The Moving Average Convergence Divergence (MACD) oscillator is in a bullish alignment above the zero line. 
In this weekly Japanese candlestick chart of HRMY, below, we can see that we do not have a lot of price history but what we do have is bullish. Prices are in an uptrend and have broken out over previous highs in the $52 area. There is no top reversal pattern and no upper shadows to worry about.
The slope of the 40-week line is bullsh. The weekly OBV line is strong and confirms the price gains. The MACD oscillator has crossed to the upside for a fresh buy signal.
In this daily Point and Figure chart of HRMY, below, we can see a price target of $72 -- higher than the fundamental forecast.
In this weekly Point and Figure chart of HRMY, below, a price target of $74 is indicated.
Bottom line strategy: Traders who can risk a pullback to $48 could go long HRMY at current levels. The $72-$74 area is our price objective.
