ATHX Technical Analysis 🧙Athersys Inc is a clinical-stage biotechnology company. It is focused on developing novel and proprietary therapies in the areas where there is a significant unmet medical need, particularly in the regenerative medicine area. The firm's main product is Multistem cell therapy. Its current clinical development programs are focused on treating neurological conditions, cardiovascular disease, inflammatory and immune disorders and certain pulmonary conditions. Its revenue has been derived from corporate collaborations, license agreements, and government grants.
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ATHX
Athersys, Inc. - wait pullback to 2.31 and then buyAthersys, Inc.
The solid gain came after the company and the University of Texas Health Science Center at Houston announced the enrollment of the first patient in a phase 2 clinical study evaluating the company's MultiStem cell therapy as a potential early treatment for traumatic injuries.
The company doesn't have any approved products on the market ye t, so the enrollment of the first patient in the phase 2 study for MultiStem represents a major milestone toward changing that status.
The potential market for MultiStem is tremendous if the experimental cell therapy is successful. Trauma is the leading cause of death in the U.S. for people under age 45, according to the Centers for Disease Control and Prevention. It's the No. 3 cause of death for Americans overall and a major cause of severe disability. MultiStem holds the potential to address immune responses that can cause serious complications related to traumatic injuries.
Analyst target price = 6.80
wait pullback to 2.31 and then buy
ATHX 88%ATHX recently broke out of a descending wedge that took it from the top of the channel to the bottom...after 9 weeks of consolidation, it is now trading above all major moving averages...monday saw a break above the 200 day ma and today saw a retest...macd is in positive territory and looks to be holding...target for descending wedge coincides nicely with the top of the channel at $4.30 (88%)...blue line is where i bought...IT'S YOUR MONEY, DYOR!!
ATHX Crucial week aheadATHX has a near doom death cross approaching as the 50 DEMA is coming close to the 200 DEMA. Overall, outside chance here for a WXYXZ correction to be taking place, but where Z finishes remains unknown.
RSI is low to nearing oversold.
Will try to provide update next week.
Do not take as financial advice.
ATHX UpdateThis one, though seemingly violent at times, has followed a complete and natural ABC Correction (as well as a proper ABC within each of these legs as well, broken down above) after a big first leg up. Expectations for a strong 3rd wave - C Wave up (abCde) are growing by the day. As you can see, the resistance that has been hit multiple times since April has finally been breached and we are sitting right on top of that trend at the moment with a small bullish pennant forming in the scope of a large pennant overall.
Time will tell if this soars, but a decision should be happening quickly. Keep an eye on this one.
Do not take as financial advice as this is merely for viewing.
athx updateThe stock has had a complete breakdown to retest the Daily 150 EMA.
There is a decisive moment ahead to see if there is a rebound off said EMA.
ATHX Scenarios - UpdateHere is an update to yesterday, a quick, sharp ABC recovery has taken place. Time will tell if this results in this being just the first of a more complex ABC or if this restocked the stochastic enough to propel it onward.
ATHX ScenariosPurely for my own use as I've been following this (as well as a few other stocks since COVID surged this market sector) for a couple months now.
I see 3 options ahead of us after the immediate rejection today near 3.30 mark.
1) A quick correction before another rise after another bounce off the support
2) A two week correction before a bounce off support to bigger and better levels
3) A breakdown in the market and a dip to new lows.
Personally, I feel option 1 holds as most likely just based on the sharpness of the rejection this morning.
Don't use as trading advice as this is merely for monitoring.
Can ATHX break-up the down trend?! (Anthersys Review)Good Morning, and welcome to my first analysis that is NOT a cryptocurrency!
Today we will be analyzing Anthersys ( ATHX ).
ATHX has had a rough time recently and after hitting a 52 week high of $2.63 in September of 2017 it has dropped roughly 45%.
Lets take a look at the chart. The first thing we can see is that we are obviously in a downward channel and we have been since mid Sep. 2017. I have drawn two support levels and 2 resistances levels to highlight entrance and exit points for the short term. If you notice we have hovered around "Support 1" since 2/14 and just yesterday we broke above this support and closed the day above it. We see a few powerful indicators in the DMI chart which shows the +DM is about to cross the -DM all while the ADX (the true strength indicator) is way above our signal line of 25 which suggest we are in a strong trend. The directional movement is touching and if these cross this is a good buy signal.
The next thing to notice is the RSI. We are also trending up and seeing higher lows since 2/14. We can see that on 3/2 we hit a low point all while the RSI was still trending up. The RSI tends to fluctuate between 10 and 60 in a bear market (downtrend) with the 50-60 zone acting as resistance. On the flip side RSI tends fluctuate between 40 and 90 in a bear market (uptrend) with the 40-50 zone acting a support. Right now we are almost at 60 which again could show we are breaking out of the down trend. IF we can see the 40-50 zone hold as support this will be a good indication that we are indeed showing a bullish support and should see a good push up to the resistance 1 or even resistance 2 levels.
If you notice, my upward tend line on the RSI meets the red highlighted section on the RSI. The red highlighted section is the support zone between 40-50 to indicate if we are supporting a bearish or bullish trend. If the RSI drops below this support and the DMI crosses back over this would show a false breakout and we could definitely drop further down. However, all signs at the moment are showing a bullish trend could be on the brink.
Lets pay close attention to the next few days to see if we can break the 1st resistance level and out of the downward channel. We need to see a confirmed break out and see a close above this resistance 1 level to show and indicate upward strength.
A good entry point would be a dip that touches the support line with a buy around $1.41 and setting a stop loss set below the support line. This would minimize loss if we were to drop further. A bounce off this support 1 line could rally us up to break the resistance 1 level, that is if all other indicators hold as pointed out above.
All in all, the chart is showing positive signs as we speak which could mean good things to come at least for the short term, but remember we are still in a DOWNWARD channel so we need to see a break out of this to really confirm upward movement.
Anthersys is to post quarterly earnings tomorrow on 3/7, this could also be an indicator of future movements depending on the report.
Any and all comments are welcome!
Happy Trading :)
Much Love
DustyPH
***This information is not a recommendation to buy or sell ***
