ATRS Antares Pharma Daily Chart Oversold Positive Divergence

Antares sets up with attractive positive divergence after the multi-month drubbing. Biotech, pharma and healthcare stocks are under pressure this year after their multi-year rallies. ATRS is involved with the needle-free technologies and is involved in joint partnerships with the Epi-pen that should receive further approvals. Any biotech or pharma play, especially small caps, are very dangerous plays these days; a stock can be a hero or a zero in a heartbeat.

The downward-sloping red channel is in play and illustrates the steady trend lower during the last few months. A move to the lower trend lines at 1.50-ish cannot be ruled out. The chart, however, is set up for bulls right now with the indicators at or coming off oversold levels and most importantly the universal positive divergence green lines. The possie d should create rocket fuel for a potentially strong relief rally.

The pink arrows show the standard deviation bands squeezing out a strong price move lower. The lower band is violated so a move back to the middle band at 1.77 and falling is on the table. The 1.70 price support level may be an attractive upside target. Price is extended below the moving average ribbon so a mean reversion higher is needed.

Most importantly, the weekly chart is positively diverged and also at the lower boundary of its standard deviation bands. The projection is for ATRS to bottom at this 1.48-1.60 level and receive a strong bounce from the possie d on the daily chart with an upside target range at 1.70-2.00. Keystone opened a long position in ATRS on Friday and will add if it drops to 1.50. As with all the speculative knife-catches, the trade is very dangerous the typical high risk high reward play. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.