Halozyme Therapeutics, Inc. (NASDAQ: HALO)

Halozyme Therapeutics, Inc., a biopharmaceutical company, engages in the research, development, and commercialization of human enzymes. Its research focuses on human enzymes that transiently modify tissue under the skin to facilitate the delivery of injected drugs and fluids, or to alter abnormal tissue structures for clinical benefit. The company’s products are based on the Enhanze technology, a patented human recombinant hyaluronidase enzyme that enables the subcutaneous delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids.
Please take a look at the 1 yr. chart of HALO (Halozyme Therapeutics, Inc) that I have shown below with my added notations:

HALO had formed a nicely defined up-channel over the last (4) months. A channel is simply formed through the combination of a trend line support that runs parallel to a trend line resistance. When it comes to a channel any (3) points can start the channel, but it’s the 4th test and beyond that confirm it. You can see that HALO has multiple test points between the channel resistance (red) and the channel support (blue). Earlier this week HALO broke the channel support and should be moving lower from here.

The Tale of the Tape: HALO broke out of the bottom up its up-channel. A short trade could be entered on any rallies up to the previous channel support. That line currently sits just above $15.
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