Last Updated on April 9, 2019 by Sultan Beardsley
This past week Eyepoint Pharmaceuticals filed form 4’s three days in a row. Interestingly, this week Eyepoint is presenting at H.C. Wainwright Global Life Sciences Conference on Monday, April 8 at 2:50 PM BST & 18th Annual Needham Healthcare Conference on Tuesday, April 9 at 8:00 AM ET. The
Eyepoints technical setup has a quite defined cup & handle formation with a repeating .786 fibonacci retracement which is a potential harmonic pattern leading up to possible HOT run into earnings (See previous fibonacci retracement/ cup and handle outlined- zoom out on the interactive chart).
Furthermore, with analysts consensus of $3.48-$3.95 Million for the quarter, and very confident CEO + CFOs on previous CC, (although I don’t suggest trading earnings) on an earnings meet or beat, this company could potentially see a parabolic move over $2.42.
In the last article with ADMA Biologics, I defined what I look for in a cup and handle formation. Please see the interactive chart.
Ceilings of resistance I am paying attention to is $2.00 -> $2.04 -> $2.26 -> $2.42 (which is .382 retracement level). This quarter
This is my opinion not advice, please do your own homework before investing.
I am/ we are long EYPT.