Time to Bring Amicus Therapeutics Into the 'FOLD'

The charts and indicators on Amicus Therapeutics, Inc. (FOLD)  appear bullish to me. I would look to position this stock from the long side, but let's take a look at the charts and indicators before clicking on "buy."

In this daily bar chart of FOLD, below, we can see a sideways trading range market or base pattern from last September until June of this year. Prices traded sideways around $7 with the declines below $7 being bought. How do I know or believe that those declines were bought by investors? Look at the On-Balance-Volume (OBV) line as it moves higher signaling more aggressive buying buy people. The volume of shares traded on down days was light but on up days it was stronger. That is the way the OBV indicator works. During the sideways trend the moving averages did not work, but in March and April they "kick in."...264 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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