Pacira Pharmaceuticals, Inc. develops, commercializes, and
manufactures pharmaceutical products primarily for use in hospitals and
ambulatory surgery centers worldwide. It develops pharmaceutical
products based on its proprietary DepoFoam drug delivery technology. The
company commercializes EXPAREL, a liposome injection of bupivacaine, an
amide-type local anesthetic indicated for administration into the
surgical site to produce postsurgical analgesia; and DepoCyt(e), a
liposomal formulation of the chemotherapeutic agent cytarabine indicated
for the intrathecal treatment of lymphomatous meningitis, a cancer of
the immune system. Its product pipeline comprise EXPAREL that has
completed Phase III clinical trials for postsurgical analgesia-nerve
block administration; DepoNSAID, which is in preclinical trials for the
relief of acute pain; and DepoMethotrexate, an oncology preclinical
candidate, as well as Bupivacaine Liposome Injectable Suspension for
veterinary postsurgical analgesia.
To review Pacira’s stock, please take a look at the 1-year chart of
PCRX (Pacira Pharmaceuticals, Inc.) below with my added notations:
PCRX had formed a key level of support at $60.00 (green) over the
last (4) months. In addition, the stock created a down trending
resistance starting from the end of February (red). These two lines
combined had PCRX stuck trading within a common chart pattern known as a
descending triangle.
At some point, the stock had to break support or break its string of
lower highs, and yesterday the stock broke through resistance. The
prior level of $70 (blue) could be a potential support now.
The Tale of the Tape: PCRX formed a descending
triangle pattern. A long trade could be made on a pullback to $70 with a
stop placed below that level. A break back below $70 would set up a
potential short trade.
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