After a deep pullback in August and September, Amphastar is coming back in a big way. Following its early-November earnings report, the stock is up more than 20% in the last few weeks. It has reclaimed all its moving averages and is now consolidation with a pivot at $58.
Volume has dried up nicely during this consolidation which is typically a sign the stock is becoming harder to buy and getting concentrated into strong institutional hands.
One might consider buying on a high-volume move above $58.
Volume has dried up nicely during this consolidation which is typically a sign the stock is becoming harder to buy and getting concentrated into strong institutional hands.
One might consider buying on a high-volume move above $58.