Chart of the Week: AnaptysBio
Hey, good morning everybody. It’s time for our chart of the week. It’s March 25. This week we’re gonna be focused in on biotech name, AnaptysBio. ANAB is the symbol. Not a whole heck of a lot of bullish looking charts out there on the market. But this is certainly one that stood out to me.
Take a look at this chart. It’s had a really nice run here since late September, when it had a huge rally up from about $20 up to $30. And it hasn’t stopped, moving up about 100% since the early part of October. So a good six-month run for this stock. It’s got some more room to move up into the future here.
You can take a look the chart here. It’s making a series of higher highs, higher lows, which is the textbook definition of an uptrend.
It’s actually created a nice channel, too. So it’s kind of been bouncing around, making higher highs, higher lows. It’s been going up and down the channel here – you can see that. It hasn’t been to the top part of the channel since the early/late part of December when it pulled back a little bit. It’s been hugging that lower part of the channel. But still, the uptrend is intact.
Moving averages are moving sharply higher.
Relative strength is up there in a positive way.
We also have an overbought reading in the Williams % R. It’s pulled back a little bit – this is the spot that you want to be adding this stock. Every time it’s pulled down below this 70, or the -20 figure, on the Williams % R where it’s overbought, every time it’s pulled back over there, it’s been a good buying opportunity.
MACD is sort of rolling over here but only because the stock is losing a little bit of momentum it has had over the past three or four weeks – since the middle of February.
So AnaptysBio looks like a good play for some upside. It could reach $80 before the end of summer. That would be a nice 20% move higher from where we are now.
Take a look at ANAB for a future buy here. Thanks so much for watching everyone.
