ARCT showing possible signs of a breakout in the near future.
ARCT has been trading sideways for the better part of two months. In addition, it has recently exhibited a large spike in buy-back volume. This comes after a news report that states that Arcturus Therapeutics announced a “broad strategic collaboration to advance next generation of lipid-mediated mRNA therapeutics”. Moreover, the RSI has shown a drastic spike in strength over the last couple of days. This highlights a potential breakout formation. Marked in blue is an identified psychological resistance line, the next dollar point. Furthermore, the MACD shows the opening of a buyback period. This stock shows a very promising bullish movement. Although yesterday’s trading day closed beneath the 13EMA, it has closed above it. I could see the stock riding the 13EMA up from here on out and I would take a half or quarter position until the stock shows more promise of a verified breakout. Bare in mind that this is a smaller company as there are only 19 employees and an estimated 3 shareholders.
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