NewLink Genetics Corporation, a biopharmaceutical company, focuses on discovering, developing, and commercializing immunotherapeutic products to enhance treatment options for patients with cancer. Its portfolio includes biologic product candidates based on its HyperAcute immunotherapy technology, which is designed to stimulate the human immune system; and small-molecule product candidates that are focused on breaking the immune system’s tolerance to cancer by inhibiting the indoleamine-(2,3)-dioxygenase (IDO) pathway.
Take a look at the 1-year chart of NewLink (Nasdaq: NLNK) below with added notations:
NLNK has formed a clear resistance at $42 (red), which would also be a
10-month high breakout if the stock could manage to break above it. In
addition, the stock is climbing a short term, up-trending support level
(green) over the last 2 months. These two levels combined have NLNK
stuck within a common chart pattern known as an ascending triangle.
Eventually, the stock will have to break one of those levels.
The Tale of the Tape: NLNK has an uptrending support
and a clear $42 resistance level to watch. A long trade could be made
on a pullback to the support, or on a breakout above $42. A break below
the uptrending support would be an opportunity to enter a short trade.
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