APLS – Technical Market Research
Apellis Pharmaceuticals surges 135% on Biogen’s $41/share acquisition offer. Full technical and fundamental breakdown of the deal and what it means for the tape.
Published April 1, 2026 | Equity | APLS
Rachel Kensington
Senior Equity Analyst · Blue Ocean Trading Solutions
Technical Overview
Until the morning of March 31, APLS sat well below its 20-week EMA — which had been tracking near $21.39 — a structural posture that was unmistakably bearish. Price had spent the better part of six months in a grinding downtrend, with each weekly candle carving out lower highs and lower lows from the mid-$23s in October all the way down to a multi-year low of $16.83 in late March. The 10-day EMA confirmed every step of the decline — it was running at $17.71 ahead of the announcement, pinning the tape below both the 20-day and 50-day EMAs. From a purely technical standpoint, this was a broken name: no base formation, no volume accumulation, no momentum divergence — just persistent, orderly distribution from sellers who had clearly seen enough.
