aTyr Pharma Inc (NASDAQ:LIFE), which broke out of a falling wedge on Wednesday and consolidated Thursday, continued to move higher Friday on heavy volume, closing the session above the important price level of 3.39. This could push the stock above its next resistance level in the 4 area towards the 4.05-4.35 trading range in the next couple of trading days.
This technical set-up appears to be near perfect to deliver good gains. The ADX value is increasing and above the 30 level and +DI is above the –DI indicating development of strong up trend. The MACD indicator is also above its signal line indicating further strength may be possible.
Plus, the insider transaction chart also is showing bullish signal as all transactions have been purchases of stock. In addition the institutions are also bullish, Tang Capital just bought 190k shares in Q1. We could see some impressive movement next week. I took a strong position for a swing trade here (tweeted at 2.96).
