Biopharmaceutical firm Alkermes plc (ALKS) has been trading sideways since February. The shares tested the rising 200-day moving average line in August. The key question now is whether ALKS can break out to the upside.
Let's check the charts and indicators.
In the daily bar chart of ALKS, below, I can see that the shares rallied strongly Tuesday and are now firmly back above the 50-day moving average line and the 200-day moving average line. The On-Balance-Volume (OBV) line shows some weakness from June into late August but it is now improving. The Moving Average Convergence Divergence (MACD) oscillator has been improving and shows a bullish divergence in August when the shares made a lower low.