Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

ACAD Starting A New Leg Higher

|Includes:ACADIA Pharmaceuticals Inc. (ACAD)

ACAD (Acadia Pharmaceuticals) starting to move higher after two months of price consolidation, watch for a breakout above 20.71 (strong triple resistance).

Breakout Details

BREAKOUT WATCH for possible breakout above 20.71, no resistance in area just above.
Type: True breakout from triple resistance.
Target: 24.73, 21.2% Stop: 19.37, Loss: 5.1%, Profit/Loss ratio: 4.2 : 1 - Excellent

Support and Resistance

CURRENT PRICE 20.41, at resistance, 19.88 ± 0.82, type triple, strength 9
RESISTANCE ABOVE None.

SUPPORT BELOW -10.7% at 18.22 ± 0.75, type single, strength 8
-29.1% at 14.47 ± 0.59, type double, strength 10

(click to enlarge)ACAD breakout stock chart from http://www.stockconsultant.comClick to enlarge

source: http://www.stockconsultant.com/consultnow/basicplus.cgi?symbol=ACAD

Stocks: ACAD