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BioCryst Technical Levels To Watch

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BioCryst Technical Levels To Watch

BioCryst Pharmaceuticals Inc. (NASDAQ: BCRX) announced results from a dose-ranging trial evaluating BCX9930 in treatment-naïve paroxysmal nocturnal hemoglobinuria (PNH) patients and PNH patients with an inadequate response to C5 inhibitors.

The stock was down 7.3% at $12.27 at last check. BioCryst has a market cap of $2.25 billion and a public float of 175 million shares.

bcrx5-min3-22-21.png

BioCryst Short Term Chart Analysis: Above, the 5-minute chart on BioCryst shows the stock has built higher lows into a resistance level near the $14 mark. The price was previously unable to break above the $14 level until Monday.

The higher lows have shown support throughout last week. The line that connects these lows could hold as a support level in the future.

The stock is trading above the 200-day moving average (blue) and below the volume weighted average price (pink). This indicates the price is consolidating before there may be a strong move in either direction.

bcrxdaily3-22-21.png

BioCryst Daily Chart Analysis: The daily chart on BioCryst is shown above. The stock has been trending upwards the previous three months, this can be seen by connecting all the lows on the chart and looking at the slope of the line.

The stock seems to have trouble breaking the $14 level, but traded above that level for a short time in Monday’s trading session.

Bulls would like to see the stock break above resistance levels and consolidate before the price may make another higher move.

Bears would like to see the stock be unable to break above the $14 resistance and to stop forming higher lows.

 

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