AGIO trade ideas
AGIO broke out but less volume remains an issueAGIO broke out of the downtrend but didn't close on the highs of the day. Also the volume on the breakout was very less understandably due to holiday season. It will be an interesting round of events next week to get an idea as to where AGIO's is going. MACD and RSI are showing bullish signs. All in all if it can consolidate a little over the downtrend line there is a definite possibilities of a long term trend reversal.
AGIO H&S shortSifting through the biotechs I came across this head and shoulders opportunity. Volume pattern confirming so far. We might be close to breakdown. Also notice the RSI trend and latest high right around 51. I suggest a stop above 110, which is about 2x ATR and gives some room. The biotechs as a group are pretty bullish at the moment, so this trade could act as a nice hedge.