Tuesday, November 24, 2015

Arca Biopharma Inc (NASDAQ:ABIO)


Arca Biopharma Inc (NASDAQ:ABIO) broke out of a bottom/accumulation pattern today, as the stock closed up 47c or 8.94% on heavy volume, closing above the 50-day EMA for the first time in months. Today’s high is resistance for a follow through move on Tuesday. Looking at the technical chart above MACD and ADX both signal positive strength. The stock still trading above 9-day and 20-day exp moving average, also a bullish sign. Plus, the company will make a presentation at the 27th Annual Piper Jaffray Healthcare Conference on Tuesday, December 1 2015. I believe this conference on Wednesday could be a positive catalyst for ARCA biopharma shares.

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