FDA Approves Medicines360's LILETTA® (levonorgestrel-releasing intrauterine system) 52 mg to Prevent Pregnancy for up to Six Years, the Longest Approved Duration of Use of Any Hormonal IUDs
This big Pharma has been on the decline since 2015. I see it is in the top of the channel currently. Good opportunity to short to the bottom of the channel, especially with the general market declining.
Allergan plc. has been declining over the last few years forming what I see as a falling wedge. Recently it demonstrated bullish PA on W chart. Despite it did not touch the lower boundary of the wedge the structure may be completed. However further slide is still possible - on M and 2M charts there are 200MA and 100MA forming support below current price levels....
It looks like nothing is going to get in the way of AGN tumbling to sub $100, even upbeat earnings and boosting yearly guidance only provided short term relief. This has been a nightmare for investors holding on hoping for a reversal, it teaches us all a lesson that no matter what the stock, once it goes out of favour it is very hard to reverse the negative...
Investors have been running from Allergan Plc for some time, losing 60% of its market cap since 2016. Unfortunately there is no signs of a bottom, endless bad news and a negative result in their much anticipated Depression drug. Most recently a breast implant product is facing a ban in Cananda.