Elan Corp. Plc. : a New Breakout

The falls experienced by the market over the last three days has hampered the occurrence of breakouts. Since last week, the market is showing signs of weakness. Some analysts say it is a break. A stop on the way. A pause in their advance. In any case, this behavior has generated a deterioration in the price patterns and technical indicators.

Moreover, the market is showing no significant volatility or high volumes. All these elements together, undermine the breakouts. Our Stock Picks System only found one breakout at the end of yesterday. There is not one very important but give us the opportunity to analyze one more chart.

This stock is Elan Corp. Plc (ELN). This company is part of the biotechnology industry and operates in USA and Ireland. His main fields of action are the Alzheimer's, Parkinson's and multiple sclerosis.

This stock broke a base of price built for eleven weeks and now seems to begin a new way up. It is noteworthy that in May of the last year, ELN was a major breakout and since that time has risen in price by 58%. It is common stocks making breakout as the ELN. make pauses to generate successive small breaks.

Despite the current market situation, it looks very solid progress on this stock.