$PLX, we can see the price breaking up the upper trend line of the wedge, but we have to wait till the markets closing to see if the price could close above the line, and at least close above $4.71 point, that will be a bullish sign.
The indicators was bullish during the last trading month, we can see the MACD & the RSI trending up during the wedge formation and we can see the volume decrease, we call it a "price consolidation", but we need to see increasing volume today and the coming days to insure the breakout.
If we don't see a widening in the volume, so I think that we might have a technical correction for the last trend.
The catalyst for the last price action was the letter that Genzyme sent to the health provider indicating the new shortage of the drug supply for the Gaucher patients, this will be a good reason to push the FDA for approval a third supplier for the Gaucher drug, that's $PLX favor
During this shortage, Prptalix will deal with the European & Brazilian approval too in Q4, as my calculation the approval decision in Europe will come during November this year, and the European markets will be targeted with $PFE the worldwide marketing partner (excluding Israel) and can compete with Genzyme & Shire with a aggressive prices as the coast of the production in $PLX technology is significantly cheaper than the both competitors.
keep watching closely..
Disclosure: Long PLX