Focus on Biotechnology: Ardelyx Inc. Trading Idea for 19/10/2023
Biotechnology company Ardelyx Inc. has received FDA approval for its drug Xphozah. This medication is intended for treating kidney diseases and is typically recommended for patients with elevated kidney phosphorus levels. Xphozah could be a valuable addition to hemodialysis therapy since it is compatible with other drugs used for treating these conditions.
Let's take a look at the Ardelyx Inc (NASDAQ: ARDX) stock chart.
On the D1 timeframe, support has formed at 3.22, with resistance at 4.24. A break in the downward trend is very likely.
On the H1 timeframe, the short-term target for the price increase is around 5.53; while in the medium term, it could reach 9.21.
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Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Let's take a look at the Ardelyx Inc (NASDAQ: ARDX) stock chart.
On the D1 timeframe, support has formed at 3.22, with resistance at 4.24. A break in the downward trend is very likely.
On the H1 timeframe, the short-term target for the price increase is around 5.53; while in the medium term, it could reach 9.21.
—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.