It looked almost certain that SRPT would break out to new highs in late June, but as the market turmoil continued the stock lost favour, seemingly the stock has now found relative support and ready for another move higher. Options markets have seen higher call buying and sentiment and speculation has also become quite bullish as the possibility of larger companies...
Nice adam-eve formation inside a symmetrical triangle, very nice clean pattern.
In our last analysis we had identified the possibility off a breakout in SRPT, that has now come to fruition and has played out perfectly, this is a prime example of why you should analysis every company not just those highlighted on mainstream media. Such opportunities are easier to identify in larger time frames and produce mush greater gains, 24% gain in 4 days...
Back test of recent breakout after three months of consolidation.
Sarepta is on the brink of a considerable breakout and the NASDAQ:ARRY deal yesterday has just added more fuel to the fire. Currently sitting just below the 200ma and the $128 price level,a break above looks inevitable and all indicators are very bullish with the RSI aalso breaking out. AVERAGE ANALYSTS PRICE TARGET $204 AVERAGE ANALYSTS RECOMMENDATION ...
Strong name and see the chart. It has bounce unlimited amount of times from 0.236fib (114.43 ish). Wait for this to come down to this price or close to it. I am willing to play this name for earning run 100%. I expect this to be near 140 by the time er comes in.
IMO $SRPT is in a downward spiral. I believe this could be a god entry point for a short position. Everything I say is my own opinion.
SRPT bearish engulfing candle with volume
1) Local Adam & Eve top potential... or play it safe and wait for confirmation on a break of $110.58 2) Top of current downward channel 3) RSI, MFI, Accumulation bearish ALL diverging on the daily for the past several days 4) Broader markets ready for a correction 5) Death cross OTW on the daily chart In other words... sell.
$SRPT RSI looking oversold on the daily chart, held trend line support well today. Expecting a bounce in the near/medium term. Targeting $160 at least by next earnings release late October. Note: Informational analysis, not investment advice.
SRPT has insider purchasing stock and many of the top analysts are recommending a buy.
Bearish Butterfly with bearish divergence. I'm waiting for price to consolidate in the potential reversal zone (the highlighted box) and make a move down before I enter this one. Measurements - 1.276XA - AB=CD - 2.618BC
The bottom of the channel had been violated but held finally. This is a good supportive sign.
The support has held and another test of the top is running.