Retrophin, Inc., a biopharmaceutical company, focuses on the
development, acquisition, and commercialization of therapies for the
treatment of serious, catastrophic, or rare diseases. Its product line
includes Cholbam, a cholic acid for the treatment of bile acid synthesis
disorders due to single enzyme defects, and for adjunctive treatment of
peroxisomal disorders, such as Zellweger spectrum disorders in patients
who exhibit manifestations of liver disease, steatorrhea, or
complications from decreased fat soluble vitamin absorption; Thiola,
which is indicated for the prevention of cystine stone formation in
patients with severe homozygous cystinuria; and Chenodal, a synthetic
oral form of chenodeoxycholic acid for radiolucent stones in
well-opacifying gallbladders.
Take a look at the 1-year chart of Retrophin (NASDAQ: RTRX) below with my added notations:
RTRX had been in a solid downtrend going into February. However, over
the past several months the stock had also created a key level of
resistance at $16 (red). A break above that $16 level should mean higher
prices for the stock, and last week RTRX finally broke that resistance.
The Tale of the Tape: RTRX broke through its key
level of resistance at $16. A long trade could be entered on a pull back
down to that level. However, a break back below $16 could negate the
forecast for a higher move and would be an opportunity to get short the
stock.
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