$FENC has a nice short signal, the stock had a spectacular rally since it bottomed in early 2022, but could be reaching the end of the road here after drastically outperforming the market until now. Their drug received FDA approval in Sep 2022, commercial availability in the US in Oct 2022, but despite this, the latest report showed an increase in net loss YoY...
0.786 can be seen as a previous point of resistance
now that price has moved higher than this level, it will be seen as a point of support for the breakdown of the rising wedge , a pattern that is commonly bearish (as you can see on the chart)
Pharmaceutical companies are possibly hot right now, due to the emergence of the new COVID variant.
Buy the Dip.
