ANI PHARMACEUTICALS – ASCENDING TRIANGLE
Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features a bullish continuation ascending triangle chart pattern on ANI PHARMACEUTICALS listed on the Nasdaq Stock Exchange.
ANI PHARMACEUTICALS INC (ANIP.O)
ANI Pharmaceuticals, Inc. is an integrated specialty pharmaceutical company. The Company is engaged in developing, manufacturing and marketing branded and generic prescription pharmaceuticals. The Company focuses on areas, including controlled substances, anti-cancer (oncolytics), hormones and steroids, and complex formulations. The stock is listed on the Nasdaq Stock Exchange. Price chart formed a 3 year-long ascending triangle with the horizontal boundary acting as strong resistance at 73.0 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 76.0 levels will confirm the breakout from the 3 year-long ascending triangle with the possible chart pattern price target of 120 levels. Long-term breakouts can launch multi month-long trend periods.
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