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  1. Home
  2. / Investing
  3. / Stocks

Alexion Is Reaching New Heights

Shares of this biotech company look like a good opportunity.
By BOB LANG
Nov 12, 2020 | 12:00 PM EST
Stocks quotes in this article: ALXN

The biotech area is often tough. When a stock shows a nice trend some news often comes out to hurt the price action.

That is the risk in this game -- the gains in this group can be enormous but you need to understand the binary nature of trading in the space. It's much more volatile.

That said, if we use our trusty charts to decipher a trend we can find good opportunities, such as Alexion Pharmaceuticals (ALXN) .

This chart shows a nice bottom made around August and a series of higher highs and higher lows. The stock just broke away from some tough resistance but the volume and money flow are not yet confirming.

Relative strength is solid, and I suspect another good move higher into the $130s will catch the attention of the big money players.

This commentary was originally sent to subscribers of Trifecta Stocks as part of its regular "Chart of the Day" feature. Click here to learn more about this portfolio, trading ideas and market commentary product.

-- Bob Lang and Chris Versace are co-portfolio managers of Trifecta Stocks.

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

At the time of publication, Lang had no positions in any securities mentioned.

TAGS: Investing | Stocks | Technical Analysis | Trading | Biotechnology | Trifecta Stocks

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