Diplomat Pharmacy, Inc. operates as an independent specialty pharmacy
in the United States. The company stocks, dispenses, and distributes
prescriptions for various biotechnology and specialty pharmaceutical
manufacturers. It also provides specialty infusion pharmacy, patient
care coordination, clinical, compliance and persistency program, patient
financial assistance, specialty pharmacy training/consulting, benefits
investigation, prior authorization, risk evaluation and medication
strategy, retail specialty, and hub services, as well as clinical and
administrative support services to hospitals and health systems. The
company’s primary focus is on medication management programs for
individuals with complex chronic diseases, including oncology,
immunology, hepatitis, multiple sclerosis, HIV, specialized infusion
therapy, and various other serious or long-term conditions. Diplomat
Pharmacy, Inc. has seven pharmacy locations in California, Connecticut,
Florida, Illinois, Massachusetts, Michigan, and North Carolina.
Take a look at the 1-year chart of Diplomat (NYSE: DPLO) below with my added notations:
Over the last 8 months DPLO has been trending consistently higher,
while also forming a nice trend line of support (green). Always remember
that any (2) points can start a trend line, but it’s the 3rd test and
beyond that confirm its relevance. As you can see, the market deems
DPLO’s trendline to be very important. A pullback to that line will
provide trading opportunities, one way or another.
The Tale of the Tape: DPLO has a trend line support
to monitor. A long position could be entered on a pullback to the
trendline, with a stop placed below the level of entry. A short position
could be entered if DPLO were to break below its trendline.
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