Sarepta Therapeutics Inc (NASDAQ: SRPT)

Sarepta Therapeutics, Inc., a biopharmaceutical company, focuses on the discovery and development of RNA-based therapeutics for the treatment of rare and infectious diseases. Its lead product candidate is eteplirsen, an antisense PMO-based therapeutic, which is in Phase IIb clinical development for the treatment of individuals with Duchenne muscular dystrophy. The company is also involved in developing treatments that are in Phase I clinical trials for infectious diseases, including AVI-7288 for Marburg virus; and AVI-7100 for H1N1 influenza virus. In addition, it focuses on developing preclinical research product candidates for the treatment of other neuromuscular, infectious, and rare diseases.
Please take a look at the 1-year chart of SRPT (Sarepta Therapeutics, Inc.) below with my added notations:

SRPT is a stock that can move quite a bit. After finding support at $30 in March the stock ran all the way up to $42. Once it came back down to $30 in April, SRPT then ran up to $47. One more bounce on $30 came in August and that time the stock rallied up to $55. November’s drop took SRPT below $30, and after rallying all the way into January; the stock hit $30 as resistance, as expected. This week the stock has hit $30 again.

The Tale of the Tape: The $30 level is key to SRPT. A short play could be made at $30 with a stop placed above that level. However, a break back above $30 would be an opportunity to get long on the stock.
Please share this article