Thursday, September 10, 2015

Agios Pharmaceuticals Inc (NASDAQ: AGIO)

Agios Pharmaceuticals, Inc., a biopharmaceutical company, focuses on the development and commercialization of therapeutics in the field of cancer metabolism and rare genetic disorders of metabolism in the United States. The company’s product candidates include AG-221, a potent inhibitor of the mutated isocitrate dehydrogenase (IDH) 2 protein for the treatment of patients with cancers that harbor IDH2 mutations; and AG-120, an oral inhibitor of the mutated IDH1 protein for the treatment of patients with cancers that harbor IDH1 mutations. Its product candidates also comprise AG-348, an oral small molecule and activator of the pyruvate kinase-R enzyme used for the treatment of patients with PK deficiency.
Take a look at the 1-year chart of Agios (NASDAQ: AGIO) below with the added notations:
1-year chart of Agios (NASDAQ: AGIO)
AGIO has been working its way lower over the past 8 months. During that time, the $90 price level (blue) has become very important to the stock over. Not only was the $90 level a resistance area back in October and November, that level was also support once AGIO got above it. Last week the $90 level was hit as resistance, yet again.

The Tale of the Tape: AGIO has a key level at $90. A trader could enter a long position on a break above $90 with a stop placed under the level. However, if traders are bearish on the stock, a short trade could be made instead at the $90 resistance.

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