Jazz Pharmaceuticals (JAZZ) Price Forecast: Will Breakout Confirm Higher Highs?

Jazz Pharmaceuticals plc (JAZZ) is a specialty biopharmaceutical company focused on neuroscience and oncology. Its stock recently completed an approximately 50% retracement of the prior advance and a successful test of trend support at the 50-day moving average. A higher swing low resulted, along with the formation of a bullish flag pattern, a trend continuation setup. The combination of a retracement level combined with a moving average, strengthens the significance of that low. JAZZ daily chart shows initial breakout of bullish flag pattern. Source: TradingView Bull Flag Builds on Major Breakout Leg The formation of a bull flag pattern followed the recent breakout of a long-term basing pattern, with a breakout above the 2015 high of $194.73 triggering in April and a subsequent advance that eventually reached a new high of $243.32 in May. That led to a pullback and the formation of the flag consolidation pattern. An upside breakout of the flag triggered on Tuesday and it was confirmed with a daily close at $243.47, above the May high. JAZZ weekly chart shows long-term base breakout, followed by extension of rally. Source: TradingView Breakout Valid...