THE IDEA
AKRX is testing levels last touched in February. The potential to break higher exists if the market overall also continues higher from where it is trading today.
THE TRIGGER
If AKRX is able to trade above 52.78 with above average volume the day it does this could be good confirmation of buying pressure and a trigger to get long. The idea is to hold this for an intermediate time frame play to the upside beyond 55.86 (last hit in February).
Fundamentally, AKRX is in solid shape and acting as foundation for a good strong move upward if buying pressure confirms.
AKRX is testing levels last touched in February. The potential to break higher exists if the market overall also continues higher from where it is trading today.
THE TRIGGER
If AKRX is able to trade above 52.78 with above average volume the day it does this could be good confirmation of buying pressure and a trigger to get long. The idea is to hold this for an intermediate time frame play to the upside beyond 55.86 (last hit in February).
Fundamentally, AKRX is in solid shape and acting as foundation for a good strong move upward if buying pressure confirms.