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:
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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