Amylyx Pharmaceuticals (AMLX) focuses on "discovery, development, and commercialization of drug candidates for the treatment of diabetes, obesity, and other diseases." AMLX does not have much of a trading history and the trading volume is light so this is my warning that this is a somewhat speculative issue. (Here's a recent update.)
In this daily bar chart of AMLX, below, we can see that prices were in the single digits in May and have subsequently rallied sharply to the $38 area. Not bad. Prices are in an uptrend above the rising 50-day moving average line and we now have enough data for the 200-day line which is also positive.
The On-Balance-Volume (OBV) line shows a rise from April/May. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line but correcting.
In this weekly Japanese candlestick chart of AMLX, below, we see a positive trend. Prices are moving from the lower left of the chart to the upper right. AMLX trades above the rising 40-week moving average line. A very large bullish engulfing pattern can be seen at the end of August and the beginning of September.
The weekly OBV line is bullish and so is the MACD oscillator.
In this daily Point and Figure chart of AMLX, below, we can see a price target in the $42 area.
In this weekly Point and Figure chart of AMLX, below, a longer-term target of $60 is possible.
Bottom line strategy: Keep in mind that this is a speculative name. The charts and indicators are pointing to higher prices ahead of earnings Thursday evening.
