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...
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...
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.
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.
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
Sarepta Therapeutics, Inc. is a biopharmaceutical company. The Company focuses on the discovery and development of ribose nucleic acid (RNA)-targeted therapeutics for the treatment of rare neuromuscular diseases. It operates through discovering, developing, manufacturing and delivering therapies to patients with Duchenne muscular dystrophy (DMD). It is focused on the development of its disease-modifying DMD drug candidates. It has received accelerated approval for its product, EXONDYS 51, indicated for the treatment of DMD in patients who have a confirmed mutation of the DMD gene that is amenable to exon 51 skipping. EXONDYS 51 is studied in clinical trials under the name of eteplirsen. Its next generation phosphorodiamidate morpholino oligomer (PMO)-based compounds are synthetic compounds that bind to complementary sequences of RNA by standard Watson-Crick nucleobase pairing. Its PMO-based chemistries are peptide conjugated PMO (PPMO), PMO-X and PMOplus.
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SRPT
