First product is selling very well +47% yoy sales growth, NDA for second product expected in Q3 for NASH !
The chance to first to market with a NASH drug is a huge opportunity.
Pattern: $84-$90 support has proven itself a multiple times. Stock is in a medium term consolidation pattern between $85 to $130 range.
Edge: Buying so close to or right at support gives us a great reward to risk ratio. If the stock breaks below support, we are stopped out for a small loss, but if support is protected again, we have more higher upside.
Risk...
First off, earning is next week. Beaten down (but not for long) and this has good amount of shorts built up (26% or so).
Looking at MACD (on 3MO t/f) and blows my socks off. It tells me a violant move is coming (also at oversold situation). I am in general bullish on bio tech after recent slam. Will see.
I am playing er.
Here we can see that for the past INTERCEPT PHARMACEUTICALS INC has been finding support at around in around $87, which has been confirmed 5 times, and a resistance of about $116-$120, which is a little less defined but just looking at the chart, it is there. Once the pattern proves itself that price action is going bull up to support, that's when I will go long....
My opinion is:
Price action will retrace back to $64.00 soon, which would be a great time to BUY again. See chart for more details.
Only one reason why a CLUSTER of insiders would buy that work in a company, that is because they know price will go UP. Just on train with them.
We seem to be at 1) Multiyear support level 2) dawn of breaking the LT trend line. Conclusion: Big $$$ to be made here very soon. I already seen some major players placing option bets.
Shares of Intercept Pharmaceuticals Inc (NASDAQ:ICPT) are taking a beating today on the back of earnings that did not live up to Wall Street expectations. The stock is trading down over 15% to $100.00. After analyzing the stock closely, I found that there is no solid support until a double bottom at $92.00. Note the stock chart below. This is where I will be...
On this Weekly chart the Down Channel is of some concern for this Stock along with poor growth in net income, and weak growth in its earnings per share along with other negative factors. However a break in the downtrend and the news surrounding this company today and ongoing this week could provide an opportunity to Buy this stock and hold it until the close on...
Don't bet the farm, because this company's success is still hinged on FDA approval. But, if you can tolerate the risk, there will be a fine entry point in the near future. Clearly, we are short term overbought, which can be seen on the RSI. And you may have noticed the momentum has kind of sputtered out over the past couple days. I suggest waiting to buy at the...
