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 in clinical development for the treatment of individuals with Duchenne muscular dystrophy. The company is also involved in developing treatments that are in clinical development include AVI-7288 for the treatment of Marburg virus and AVI-7100 for the treatment of influenza. In addition, it focuses on developing preclinical research product candidates for the treatment of other neuromuscular, infectious, and rare diseases.
Take a look at the 1-year chart of Sarepta (Nasdaq: SRPT) below with my added notations:
For the most part, SRPT has been trending lower for the last 8
months. However, during the most recent 3 months the stock has had a
tendency of creating key price levels at the increments of $2.50 (red).
For example, the current level of support is $12.50. Next, $15 has
popped up a couple of times as both support and resistance, same thing
The Tale of the Tape: SRPT is approaching its key
level of $15. A long trade could be made on a break above that level
with a stop placed under it. A short trade could be made at $15 with the
expectation of a fall down to the next $2.50 level at $12.50.
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