NEU chart, page-6

Likely that yes there are a few recent positions that are intending to play the news catalyst, with a further 25% upside before a major resistance axis line comes into play. I think though that the volume tells an interesting story.

Whoever the primary market operator is here has been moving some significant share supply around throughout this base pattern. These more recent huge volume days have had little impact on the price action.

The contraction in volatility indicates accumulation into strong hands (more often than not). The drying up of supply towards the right shows supply coming to market is thinning so naturally the path of least resistance for the share price is up. The volume at the far right could be the vestiges of the primary market operator sucking up supply to complete the position and a few traders intending to play the news catalyst (as well as sucking in a few other traders based on their strategies).

These are all conjectures from my corner obviously and I'd say I'm barely scratching the surface. Bio specs have a certain nuance to them that other sectors don't; there are many ways to play them and all the time frames are relevant. I think there is a good chance that someone has been wearing down the long term investors over the long haul to create an impressive position, however more research would be needed to back this theory up.

I do see further upside potential - however I would be studying the reactions at inflection points where any trend channels meet the major resistance zones.