ATHX P&F - A buy if reversal Pattern sets up.
Point and Figure's can often provide clarity toward Trend, with Volume in the trend providing the "tell". ATHX catalyst may be setting up (expected news on Japan, Stroke trial & study progression). ATHX Institutional interest is high. There is a high Call interest (vs Put) in the stock going into next year. Technically, the long term triangle pattern is apparent nearing the vertex (a decision point). The stock has moved IAW patterns before- reversal on triangle and Inv-H&S in the past. Volume has supported these moves. Current price and volume pattern (1) we're on the LT triangle support line, (2) we could be at the entry to another Inv-H&S or broadening wedge (reversal patterns) -or- flagging for lower. I'm looking for volume which can confirm a reversal pattern in the coming months.
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