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Eyepoint’s Range Bound, Swing Opportunity?

Last Updated on July 17, 2019 by Kevin Douglass

EYPT | Range bound by follow_the_money on TradingView.com

Long-Term pattern suggests that after previous dilution, Eyepoint Pharmaceuticals (Nasdaq: EYPT) stock price went range bound for quite awhile before breaking out. 

Technical Analysis

  • This marks potential accumulation range for anyone looking to build a position in EYPT 
  • Ranges make for good swing trade positions (especially 20%+ both ways) and a way to average down. 
  • Range low/ highs, range from $1.42 – $1.87 is approximately $0.45 of profit both ways up (~20%+) until EYPT confirms they are adhering to terms of loan with CRG. 
  • Weekly MACD and Stochastics have divergence with stock price. This could infer spring board type action on good news (break below range could cause problems). 
  • Previous quarter showed that $EYPT was on track w/ meeting terms of CRG loan agreement. 
  • positive earning/ ER beat should help satisfy some hedge funds/ big $ investors. I remain cautiously optimistic. 
  • $EYPT could potentially come and test lows of the range within next week. I am looking to use this as a way to add to current position/ swing trade it to highs and lower cost basis on my long-position. 
  • On the other hand, falling below this range could cause knee jerk reaction/ selloff. I am going to be watching this carefully. 

Tip # 7: When trading, It is very important to have a game plan. It is good practice to establish rules to your system (i.e. do you buy in increments?, at what point do you not like the investment anymore? how long are you willing to hold?). 

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Disclosure: I am long EYPT. This is not a note to buy or sell. Please do your homework before investing. 

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