XOMA Chart Request

XOMA was a long idea from last Monday, May 9th.

 Heres the recent daily chart, XOMA is holding in a steady lateral consolidation which appears to be part of a larger base. A breakout of the base would occur around $3.19 which would mark the start of stage 2 mark up where the stock usually sees a nice move up.

 The recent 10 min chart is bullish looking and appears as if XOMA is preparing to move higher.

Here's the bigger picture on a 60 min chart and shows the extent of the larger base with a positive divergence throughout the lateral basing phase.

If you want to take a shot at this particular move, a tight stop can be set around $3.02. ADX is just crossing up through 20 which generally denotes the start of a new trend.

I still like this trade.