Looking at the chart yields an inverted head and shoulders pattern with the neckline being around 5.30. If Trius can make a move above 5.30 with volume, it should make a run back to $5.95. MACD crossed center-line which is another bullish indicator. Stay long my friends, good things ahead.
Trius finally had a nice breakout day... too bad I was at work and missed a lot of it. Everything seems to be aligning for a nice run-up to the ESTABLISH-2 data at the end of Q1, beginning of Q2.
Technically speaking, Trius MACD continues to have positive momentum. Trius closed above the 200 day moving average for the first time in a while. The inverted head and shoulders pattern is becoming validated and I still maintain my short-term target (not run-up target) to be around $5.95. A major resistance level was broken at $5.30 and we have the 200-day MA around $5.36. These levels should serve as new support.