Wednesday, March 19, 2014

Pacira Pharmaceuticals Inc (NASDAQ: PCRX)

Pacira Pharmaceuticals, Inc., a specialty pharmaceutical company, develops, commercializes, and manufactures pharmaceutical products for use in hospitals and ambulatory surgery centers worldwide. It develops pharmaceutical products based on its proprietary DepoFoam drug delivery technology. The company markets 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.
Please take a look at the 1-year chart of PCRX (Pacira Pharmaceuticals, Inc.) below with my added notations:
1-year chart of PCRX (Pacira Pharmaceuticals, Inc.)
PCRX has reached a very important price of $70 based on two different levels of potential support. First, the $70 level itself (purple) has simply been key to the stock on multiple occasions already. In addition, PCRX is approaching a potential up-trending level of support (blue) and that trendline is also getting close to the $70 level.

The Tale of the Tape: PCRX has a key area of support at $70. A long trade could be made at $70 with a stop placed below that level of entry. However, if the stock were to break below $70 traders might want to look to get short on the stock.
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