UTHR trade ideas
UTHR, I hate coming up with titles...Don't know much about the company, except that it held pretty nicely even when the whole sector is in a pullback mode today, probably just because it's too oversold. If you wanna swing a bounce, go for it. Any positive sign from the market will probably send UTHR above the 100 MA and break the neckline.
If not, well then there's always that 200 MA.
UTHR - Breakout from consolidation.After coming through with a spectacular FDA decision on one of their key drugs, United Therapeutics promptly was lifted 30%. After a well defined consolidation the stock looks like it can be bought again. Reclaimed the 8 dma, rebounded from oversold, and broke its downward channel from previous all-time high of $116.29.This could take off fast into the coming week so I don't think your time horizon needs to be very far out.
Levels to watch: $112.64, $115, $116.29
I am in the Jan $115 calls for $0.50. Excellent risk/reward. I will look to take this off by Thursday morning or reduce my risk by selling Jan $120 as they should start getting bid up into strength.
