Eyepoint pharmaceuticals today was added to the Russell 2000 and 3000. The pharmaceutical company has alot to prove this quarter with regards to their loan with CRG, but a earnings beat would spark investor/ hedge fund investment which could give potential massive upside for EYPT and current investors.
Why EYPT
After EYPT diluted (one of EYPT's pain points) more share, EYPT ended up gaping down massively. Since then the company stock price has found itself range bound, making for a nice swing-trade for traders. Long-term resistance finally met with the range, the stock price was trading in. As of July 1, 2019 EYPT has broke out of the Long-Term resistance and looks to finally have more potential for upside.
Other technicals that are appealing are:
Extended inverse head and shoulders (bullish) - or -
This could also be a potential Cup & Handle (reminder it just broke out of wedge).
Elliott- Triangle - wave looks to be completed
If EYPT fills gap, upside potential (and gap fill) would take SP to around $2.13.
Disclosure: I am long EYPT. This is not a note to buy or sell. Please do your due diligence before investing.