JimMakos
Long

Is ARIA drug approval enough for a gap fill?

BATS:ARIA   ARIAD PHARMACEUTICALS INC
368 2 0
How are you going to trade this breakout inside the gap? http://goo.gl/jGvOaX

Ariad Pharmaceuticals Inc             ., the cancer-drug maker that had lost about 70 percent of its value this year, will return its only product (cleared last year for certain types of leukemia) to the U.S. market after regulators approved a new prescribing and risk management plan.

Sales of the drug were halted in the U.S. in October after regulators saw an increased risk of blood clots.

http://www.businessweek.com/news/2013-12-20/ariad-gets-u-dot-s-dot-approval-to-bring-cancer-drug-back-to-market-1

If October's gap down is filled, a long position opened today with a $4.50 stop loss has a potential Risk/Reward ratio of 2.

What do you think of the gap at the ARIA stock chart?
Be careful if you're a swing trader because of the shooting star
Reply
Nice pick, I am also looking for a rebound here, strong bounce on heavy volume, a potential technical bottom formation. But Today's late session retreat is a bit concerning for me, I would like to see price hold above this $6 handle next week.
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