NEW YORK (TheStreet) -- Shares of Ariad Pharmaceuticals (ARIA)  were increasing in early-afternoon trading on Monday. 

Late last month, the Cambridge, MA-based oncology company said it had completed the rolling submission of its new drug application for its investigational anaplastic lymphoma kinase drug, called brigatinib. 

The medication helps treat patients with metastatic ALK-positive non-small cell lung cancer.

Ariad is seeking accelerated approval and priority review of the drug by the FDA

TheStreet'sChris Versace and Bob Lang of Trifecta Stocks have identified Ariad as the "Chart of the Day." Here is what Versace and Lang had to say about the company:

For a full story of the Ariad chart I had to go back to 2014 and the weekly chart. We see the nasty fall in late 2013, when the stock was obliterated. After putting in a bottom, it has risen like a Phoenix from the ashes. This past week was just stellar.

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In fact, we can see it just closed above strong resistance around $10 and is into that massive gap lower. Filling that would represent a move of 80% or so from the current price, achievable as interest is certainly seen.

Moving average convergence divergence (MACD) is still on a Buy signal and the RS slope is tremendous.

The test and cross of the 200-day weekly moving average was successful; this looks to have more upside.

- Chris Versace and Bob Lang's "Chart of the Day: Ariad" originally published on 9/19/16 on Trifecta Stocks.

Want more like this from Chris Versace and Bob Lang BEFORE your stock moves? Learn more about Trifecta Stocks now here. 

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

TheStreet Ratings team rates Ariad Pharmaceuticals as a Sell with a ratings score of D+. This is driven by a few notable weaknesses, which it believes should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks it covers. Among the areas the team feels are negative, one of the most important has been weak operating cash flow.

You can view the full analysis from the report here: