Kythera Biopharmaceuticals, Inc., a clinical-stage biopharmaceutical
company, focuses on the discovery, development, and commercialization of
prescription products for the aesthetic medicine market in the United
States and internationally. Its product candidate ATX-101, is an
injectable drug in late-stage clinical development for the reduction of
submental fat. The company also maintains research interest in hair and
fat biology, pigmentation modulation, and facial contouring. It has a
collaboration arrangement with Bayer Consumer Care AG and a related
collaboration agreement with Bayer Consumer Care AG’s affiliate,
Intendis GmbH to develop and commercialize ATX-101 outside the United
States and Canada.
Take a look at the 1-year chart of Kythera (NASDAQ: KYTH) below with my added notations:
KYTH rallied from October up until its March peak. From there, the
stock has traded mostly sideways, with the exception of the May dip.
Over the course of that sideways move KYTH has created an obvious
resistance at that $52 level (red). A break above $52 should mean higher
prices for the stock.
The Tale of the Tape: KYTH has a key level of
resistance at $52. 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 $52.
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