Isis was Goddess of Life, and inspiration for Isis Pharmaceuticals
Talk about a company that is going through a crisis. Isis Pharmaceuticals ($ISIS) thought they named themselves after the Egyptian Goddess of Magic and Life. Well that has sure changed. Time for a new name maybe?
The stock had a rough 7 months, running lower from a peak near 80. The final blow was the deep fall with the rest of the healthcare and pharma space in September. Since then it found a bottom and has moved higher, rising from the ashes. Perhaps they should rename the company Phoenix?
After the move up from 37 it is currently pausing in a bull flag under 65. This is what makes it interesting. The Measured Move would target 87.5. As it gathers energy for that move the momentum indicators are supportive of a move higher. The RSI is strong in the bullish zone, and the MACD has pulled back in the flag but not even crossed down. There is plenty of room to the upside int eh Bollinger Bands® as well. Look for a break over 62.5 to confirm the move higher out of the flag and ride Isis (yes I like Phoenix) higher.
