Bullish Biotech Stocks CLDN Celladon, QURE Uniqure – Charts Trading At All Time High

These are two extremely bullish looking Biotech stock charts. Both are trading near their respective all time high. I recently posted them on Twitter and wanted to highlight them:

CLDN – Celladon

CLDN recently gapped above its all time high. From a purely technical perspective this is the most bullish price behaviour you could possibly ask for. It goes without saying anything can happen with Biotech stocks. That’s why you should never bet the farm on any single stock. Get exposure to lots of bullish set-ups and let the market do its thing. That said, the gap up has to be considered a break-away gap which implies potentially much higher prices down the road.

QURE – Uniqure

QURE is one of the strongest Biotech charts around. In order to qualify as ‘one of the strongest’ it obviously has to trade near its all time high. From a purely technical perspective, trading near the ATH is bullish behaviour.
Conclusion: When it comes to technical analysis it is best to keep things simple. When I am dealing with charts like the ones above this is what I always keep in mind:
In uptrends, surprise moves tend to be to the upside.