United Therapeutics Rallied. Now It Pulled Back
United Therapeutics spent more than a year consolidating around its 2015 highs. Now the biotech may be attempting a breakout.
Notice the surge to new all-time highs late last month. The rally followed news that the Food & Drug Administration approved its Tyvaso DPI hypertension drug for two applications. (There were worries of a narrower approval.)
UTHR paused for about three weeks and pulled back toward $215. That level is potentially important because it’s near the previous highs last December and January. Has old resistance become new support?
Prices have also held the 21-day exponential moving average, which could mean an uptrend has begun.
Third, the 50-day simple moving average (SMA) rose above the 200-day SMA on June 10: a “Golden Cross.”
Next, stochastics have dipped toward oversold territory.
Finally, the macro backdrop may favor UTHR because biotechs are non-cyclical at a time when Jerome Powell is slamming the brakes on the business cycle. They’ve stabilized in the last month – even as the broader market tanked.
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Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose.
Notice the surge to new all-time highs late last month. The rally followed news that the Food & Drug Administration approved its Tyvaso DPI hypertension drug for two applications. (There were worries of a narrower approval.)
UTHR paused for about three weeks and pulled back toward $215. That level is potentially important because it’s near the previous highs last December and January. Has old resistance become new support?
Prices have also held the 21-day exponential moving average, which could mean an uptrend has begun.
Third, the 50-day simple moving average (SMA) rose above the 200-day SMA on June 10: a “Golden Cross.”
Next, stochastics have dipped toward oversold territory.
Finally, the macro backdrop may favor UTHR because biotechs are non-cyclical at a time when Jerome Powell is slamming the brakes on the business cycle. They’ve stabilized in the last month – even as the broader market tanked.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose.
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