What used to be a resistance now a support. Plus an inverse head & shoulders. Plus positive news: “Supernus said that a Phase 3 trial 'met the primary endpoint ... compared to placebo in improving the symptoms of ADHD.'" Going long anticipating 30’s where MA200 is and then maybe higher. With tight stop-loss just behind the support.
This share reports earnings today. Downtrend broken and building what looks like a bull flag. Targets 29.40 and 33 if this bull flag breaks to the upside.
Monthly trend change on wave trend indicator. 4 hour chart looks strong. VIX oversold signal screaming oversold. What's not to like?
Currently sitting at the bottom of the uptrend. May be forming a H&S.
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Bullish for the next 2 quarters
Earnings are a crap shoot, especially with healthcare stocks taking a hit, but here's one that usually beats. If it gets a pre-earnings bump tomorrow, will probably take the easy money and run.
Looks like a bull flag and possible gap fill. If earnings are decent, it should have no problems filling it since >100% of float is owned by institutional holders. It's trading on borrowed shares. Small play using my WP profits. March 37 calls. Remember, earnings are always a crap shoot.
SUPN: Supernus Pharmaceuticals, Inc. 2018-12-20 07:00:00 Supernus Announces Positive Results from Phase III Study For SPN-812 in Adolescents with ADHD
SUPN: Supernus Pharmaceuticals, Inc. 2018-12-14 16:02:00 Supernus Announces FDA Approval of sNDA to Expand Oxtellar XR® Label to Include Monotherapy
SUPN On watch for break of cloud and a close above 200.
This is a trade continuation from 8/2. 8/2 Initial trade: Sold 8/17 $55 Call @ 1.94 Sold 8/17 $50/45 Put Spread @ .56 Total Credit 2.50 (Net 243.50 per contract) 8/9 Rolled Put spread to September: Rolled 8/17 $50/45 Put spread to 9/21 $50/45 Put Spread for no cost 8/17 $55 Call expired OTM 9/18 Rolled Put Spread to October: Rolled...