In mid-March the company announced restructuring of its sales force, reduction in operating expenses and changes in drug pricing. The stock plunged over 40% in 2 days and continued more than 6 months bear raid on the company. However, over that time the company is demonstrating consistent and impressive up trend in sales across the board of all its drug products.
On Friday after 9/15 sales results became available, the company's stock staged an aggressive breakout from $1.50 to $1.96 and closed at $1.80 on the heaviest volume since March, 2017.
Technically speaking, It appears that a cup is in its front end of its formation. I expect the stock to climb to $2.45 $2.50 (A level in which the company's CEO purchased 500K shares). Then it may want to retest the current level (The price it closed on Friday) as a support. If the company continues to execute as it's doing so far and with an expected restructuring of its debt, it's not inconceivable that the stock may go back to the $6 levels it held last year and beyond.
On Friday after 9/15 sales results became available, the company's stock staged an aggressive breakout from $1.50 to $1.96 and closed at $1.80 on the heaviest volume since March, 2017.
Technically speaking, It appears that a cup is in its front end of its formation. I expect the stock to climb to $2.45 $2.50 (A level in which the company's CEO purchased 500K shares). Then it may want to retest the current level (The price it closed on Friday) as a support. If the company continues to execute as it's doing so far and with an expected restructuring of its debt, it's not inconceivable that the stock may go back to the $6 levels it held last year and beyond.