( Check out an exclusive PRO Talks with Carter Worth where he discusses his methods. ) Viking Therapeutics (VKTX) … the eight-month standoff is at an end. After surging to $100 in mid February, Viking Therapeutics, has slumped some 40% in the ensuing eight months, and just now is coming to life. Two identical charts below: Converging trendlines… otherwise known as a symmetrical triangle chart pattern, depict the standoff of the past 8 months. A well-defined series of lower highs and lower lows, as the stock works into the apex of the formation. And, now, boom, the stock is moving up and out of the formation, to the upside. A bullish resolution of the chart pattern, a bullish resolution after a period of equilibrium where bulls and bears have been matched off evenly and the stock has traded in a narrow and narrow, tighter and tighter range. As to where we believe VKTX is head… our price objective is the former high, at the $100+/- level. -Carter Braxton Worth For actionable recommendations via email and live nightly videos become a member at worthcharting.com DISCLOSURES: (None) All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL’S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. Click here for the full disclaimer.
