Tobira Therapeutics Inc Broke Out Of A Bottom Pattern
António Costa | Aug 15, 2016 03:34AM ET
Tobira Therapeutics Inc (NASDAQ:TBRA) broke out of a bottom/accumulation pattern. Friday's volume was the highest in the past one month and the rally was helped by the strong accumulation of traders on the buyside (strong participation). Over the last four trading sessions, TBRA has witnessed green candles on increasing volume. So, I hope that everyone has had an opportunity to take a look at the stock since it is on the uptick. With the RSI rising off an extreme oversold position and with MACD crossing over the signal line, the stock looks prime for a strong bounce. Technical indicators point to TBRA being in an upward trend already but this could be just the beginning of a breakout that could bring good returns. Plus, two analysts have reiterated/raised their price targets (Cowen $11 and H.C. $31) on TBRA in the past week. If momentum continues we could see a Major Potential Bounce that could possibly send the stock to +$6.
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