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.
MS Money Move and its Chief Operating Officer who is a scientist and individual investor, as well as its affiliates are not registered financial advisors. Our posts should serve as educational material to help you conduct due diligence research. Posts and articles are not directives or recommendations to invest in any security. We reserve the right to buy or sell any security for ourselves without any notification except when required by law. We are not responsible for the action of our affiliates. Investment theses may change due to the variable nature of the securities market. Because of this there is great risk when investing in stocks and options which can result is capital loss. Additionally, past performance by MS Money Moves or any security is not a predictor of future performance. Everyone should conduct their own research and due diligence before making an investment decision. We recommend you consult a financial advisor regarding any investment action.
The biotech sector is especially volatile. Stock prices may fluctuate substantially based on material or nonmaterial developments. We encourage everyone to familiarize themselves with clinical trial processes, relevant terminology, FDA/SEC rules and regulations, and the general processes of drug & therapy development/approval. Always do independent research in a security prior to investing.