AMRS is testing a multi-year resistance trend line. However, increased volume during the last several months suggests that AMRS may break this resistance trend line and break out much higher. I'm looking for increased volume and price levels above .70 for a confirmation of breakout. Otherwise, it may be going down again.
The pennant formation is almost complete. Look for a breakout with high volume. This may occur before the pending news of (hopefully) positive Phase III trial results.