Optimer Pharmaceuticals, Inc. (NASDAQ: OPTR)

Optimer Pharmaceuticals, Inc., a biopharmaceutical company, focuses on development and commercialization of pharmaceutical products. It offers fidaxomicin tablets, an antibacterial drug for the treatment of adult patients with Clostridium difficile-associated diarrhea (CDAD). The company sells its fidaxomicin products through wholesalers to hospitals, retail, and specialty pharmacies in the United States. It also has fidaxomicin under Phase IIIB clinical trials for the treatment of CDAD prophylaxis and CDAD in oncology patients; and under Phase II clinical trials for the treatment of pediatric CDAD treatment. In addition, the company has Solithromycin product under Phase II clinical trials for the treatment of respiratory tract infections; and OPT-822/821 product under Phase II/III clinical trials for the treatment of breast cancer.
To review Optimer's stock, please take a look at the 1-year chart of OPTR (Optimer Pharmaceuticals, Inc.) below with my added notations:
For the last (3) months OPTR has been stuck within a common pattern known as a rectangle. Rectangle patterns form when a stock gets stuck bouncing between a horizontal support and resistance. A minimum of (2) successful tests of the support and (2) successful tests of the resistance will give you the pattern. OPTR's rectangle pattern has formed an $11 resistance (red) and a $9 support (green). A break below $9 would also be a new 52-week low.
The Tale of the Tape: OPTR has formed a rectangle pattern. The possible long positions on OPTR would be either on a pullback to $9, or on a breakout above $11. The ideal short opportunities would be either on a break below $9, or on a rally back up to $11.

Please bookmark us