Let's ANIP This Issue in the Bud

As we profiled yesterday into today, the biotechnology (and crude oil) divergences to the broad market rally would likely be telling. At the moment, bulls are prevailing, albeit with a bit more work to do.

Still, the XBI (small/mid-cap biotechnology sector ETF) is surging and rather impressive in its strength building throughout the session. 

With this in mind, a small/mid-cap biotech/pharma play like ANI Pharmaceuticals Inc. makes sense to stalk into tomorrow. 

On the daily chart, below, note the tight sideways base for ANIP, easily one of the cleaner charts out there in biotech land at the moment. Yesterday's fat finger spike may have been an aberration, but the potential for an explosive move higher certainly is more viable given the XBI strength today. 

We are stalking this one for Members with a move over $58.70 or so.