One caller during Thursday's Lightning Round segment of Mad Money asked Jim Cramer about Biohaven Pharmaceutical (BHVN) . "This is up against AbbVie (ABBV) but their migraine treatment is the real deal," responded Cramer.
When we last looked at BHVN on August 27 we wrote that traders should "Continue to hold previously recommended longs. Raise stops to $115 from below $84. The $155-$163 area is our first price target with $188 after that."
BHVN is trading up more than 4 percent today so let's review the charts once more.
In the daily bar chart of BHVN, below, we can see that the shares are up on an outside day (a trading range wider than Thursday's high/low). Futures traders typically view this kind of action positively. The shares are trading above the rising 50-day and the bullish 200-day moving average lines.
The daily On-Balance-Volume (OBV) line has been moving sideways recently but is just shy of making a new high. The Moving Average Convergence Divergence (MACD) oscillator has been mostly bullish since late May.