BioVie ( BIVI) is a clinical-stage company that is developing drug therapies to treat a number of chronic debilitating conditions. The company has now updated their Phase 2 data for their Alzheimer's candidate.
Let's check out the charts and indicators. 
In this daily bar chart of BIVI, below, we can see that prices bottomed out over the past 11 months. We can see a "left shoulder" in February. A "head" in early July. A "right shoulder" in September. A "neckline" and breakout at $4. Prices rallied sharply in October/November and then pulled back to the breakout point. It is hard to "read" the volume histogram.
The daily On-Balance-Volume (OBV) line shows some "odd" moves with a sharp decline and then a modest recovery. The Moving Average Convergence Divergence (MACD) is bullish but crossing to the downside for a take profit sell signal.
In this weekly Japanese candlestick chart of BIVI, below, we see some promising developments. Prices are trading above the rising 40-week moving average line. The weekly OBV line is bullish and shows improvement going back for a year plus. The MACD oscillator is bullish in this time frame.
In this daily Point and Figure chart of BIVI, below, we can see a potential upside price target in the $19 area.
This weekly Point and Figure chart of BIVI, below, also shows us a $19 price objective.
Bottom line strategy: BIVI rallied from $2 to $8 and then pulled back to $4 so traders need to be prepared for volatility. Traders could probe the long side of BIVI at current levels but they need to risk to $3 for now. A rally above $8 would allow traders to raise stops. $19 is our price target for now.
