Alkermes Plc (NASDAQ: ALKS)

Alkermes Public Limited Company, an integrated biopharmaceutical company, develops medicines that enhance patient outcomes. The company offers RISPERDAL CONSTA for schizophrenia and bipolar I disorder; INVEGA SUSTENNA to treat schizophrenia; AMPYRA/FAMPYRA to treat multiple sclerosis; BYDUREON to treat type II diabetes; VIVITROL for alcohol and opioid dependence; TRICOR, LIPANTHYL, LIPIDIL, and SUPRALIP to lower cholesterol; ZANAFLEX for muscle spasticity; AVINZA for moderate to severe pain; EMEND to treat nausea associated with chemotherapy and surgery; and FOCALIN XR and RITALIN LA for attention deficit and hyperactivity disorder.
Please take a look at the 1-year chart of ALKS (Alkermes Public Limited Company) below with my added notations:

After rallying all the way into February, ALKS cooled off a bit in March. During the last 3 months the stock has created a clear resistance level at $48, while also forming an up-trending level of support as well. At some point the stock has to break one of those levels.

The Tale of the Tape: ALKS is wedged between two levels. A short trade could be made on a break of the trendline with a stop placed above the entry. However, if the stock were to break above the $48 resistance traders might want to look to get long on the stock instead.
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