Below this article is a weekly calendar that you can click on for further research on each of these companies.
Novartis will be releasing Phase 3 data from its Entresto PIONEER study any day now.
The MACD histogram bars are starting to come down but it’s still positive. There is a negative divergence between the CMF and price. Still, Novartis stock is holding up better than most stocks during the current market correction.
Novartis’ Sandoz division was recalling one lot of losartan tablets after finding traces of a probable carcinogen in the blood pressure drug. The drug is made by China’s Zhejiang Huahai Pharmaceutical Co Ltd. Last month, the European Medicines Agency placed the firm under high supervision after a probable carcinogen was found in its blood pressure drug valsartan. A review was extended to other ‘sartan’ medicines, including candesartan, irbesartan, losartan, olmesartan and valsartan, after very low levels of a carcinogen was found in losartan made by Hetero Labs in India.
Aquestive Therapeutics Stock
Aquestive Therapeutics has a PDUFA coming on November 18, 2018. The chart slightly favors the Bears with the sequence of upper shadows over the last few days. The MACD histogram bars are coming down and the CMF looks poised to go negative. AQST does not look like a good setup at this time. I would wait for a consolidation before entering this stock.
CymaBay Therapeutics Stock
Phase 2 top-line data for Seladelpar was released late May 2016. 52-week data is due to be released today at AASLD. Have not heard anything yet.
CymaBay Therapeutics got hammered today, yikes. There’s not a swing long setup on this chart.
TRACON Pharmaceuticals Stock
Phase 2 data for TRC102 and Temodar for Glioblastoma will be released at the Society for Neuro-Oncology annual meeting on November 14–15, 2018. The chart does not look good going into the data release. There’s not a swing long setup on this chart.
Celldex Therapeutics Stock
Phase 1 and 2 data for Varlilumab and nivolumab for solid tumors will be presented November 17, 2018 at the Society for Neuro-oncology (SNO) Meeting.
The CMF is rounding up and the MACD just went positive. The weak action in markets pulled this stock down. While the setup looks a little interesting, price action is just too volatile for a good swing long entry right now.
It’s a very dangerous time to speculate in biotech stocks because of the broader risk-off market but if I had to pick one chart above, it would be Mallinckrodt (MNK).
Below is a weekly calendar that you can click on for further research on each of these companies.