Collegium Pharma (COLL) is pressing two year highs after IPO'ing three years ago. The stock has built a nice base and looks like it is ready to turn higher.
While this stock has come a long way since November, the current level suggests a major change in trend for the stock. A break above $21 would indicate a stronger stock breaking above resistance. If the stock can't hold above above $19, it would mark more consolidation.
Greg Schnell, CMT, MFTA
About the author:Greg Schnell, CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA).