Emergent Biosolutions Inc. (EBS) has been strong and could climb still further in the months ahead. We looked at EBS back in December after Robert Kramer, CEO of the company appeared on Mad Money. We said, "Risking to $50 traders could probe the long side of EBS" with a potential Point and Figure target of $62.
Now that prices have touched $90 an update is needed.
Let's check out the latest charts and indicators.
In the daily bar chart of EBS, below, we can see that the stock made a seven-month consolidation pattern around $55 before its upside breakout. Prices are above the rising 50-day moving average line and above the rising 200-day moving average line.
The daily trading volume has been more active since February telling us that EBS has attracted more investors. The On-Balance-Volume (OBV) line is in an uptrend from August and its rise tells us that buyers of EBS have been more aggressive for several months now.
The Moving Average Convergence Divergence (MACD) oscillator is in a take profits sell mode.