Insys Therapeutics Inc (NASDAQ: INSY)

Insys Therapeutics, Inc., a commercial-stage specialty pharmaceutical company, develops and commercializes supportive care products. It focuses on utilizing its proprietary formulation technologies to address the clinical shortcomings of existing commercial pharmaceutical products. The company markets Subsys, a proprietary sublingual fentanyl spray for breakthrough pain in opioid-tolerant cancer patients; and Dronabinol Oral Solution, a proprietary orally administered liquid formulation of dronabinol. It offers its Subsys through its incentive-based commercial sales force.
Take a look at the 1-year chart of Insys (Nasdaq: INSY) below with my added notations:

INSY peaked last March at $58 and lost over 60 percent of its value from there. The stock based out over the next (3) months, started to rally from there, and all the while has hit a very important level of resistance at around $42.50 (red). No matter what the market has or has not done since April, INSY has not been able to break through that area of resistance.

The Tale of the Tape: INSY has a key level of resistance at $42.50. A long trade could be entered on a break through that level. However, if you are bearish on the stock, a short trade could be made on any rallies up to $42.50.
Please share this article