Since October, shares of APTOSE BIOSCIENCES INC - NASDAQ:APTO appear to be forming a rounding bottom and recently, have witnessed the recapture of its 200 DMA as well as a noticeable pick-up in volume as we can observe from the Daily chart above.
In addition, APTO now finds itself trading above all of its important moving averages 20/50/200 DMA's, which is...
Technicals :
1. Trading 3.69 in premarket, up 16.04%, as of writing
2. Fitting tangent lines on the chart, which has all-time highs at 3.88, uncovers a cluster of resistance
3. MACD and price action are parabolic, with current red candle signaling a possible bearish reversal through its main horizontal supports (red-dotted lines)
Fundamentals :
Protein Targeting...
APTO is a highly speculative stock. YOU HAVE BEEN WARNED! This stock is kind of unusual. It has experience chronic price declines for a very long time. Over the past six months a remarkable change in the indicators has been achieved. OBV has surged and so has stoch RSI. The MACD has not. This is to be expected. The MACD is a lagging, but confirming indicator. Why?...
Based on the resistance line and the ascending triangle, I believe that if the stock rises above $2.40 with good volume I could see it going for $2.60 or higher.
APTO is in the middle of a correction. If the lower trendline holds i'm looking for a potential expanding triangle formation or an harmonic pattern. A strong breakdown on the lower trendline invalidates this setup.
