Last Updated on August 8, 2019 by Kevin Douglass
Product Surprises Street #VolatilityWatch by follow_the_money on TradingView.com
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TherapeuticsMD (Nasdaq: TXMD) had around 106,000 Imvexxy prescriptions in the second quarter, which was approximately 41% more than during the first three months of the year.
TherapeuticsMD was expecting net rev. to reach between $4.5 million and $5.5 million in the second quarter, but surprised the street, recording $6.1 million. Management thinks the current market for Imvexxy exceeds $1.7 billion annually. The treatment’s popularity seems to be accelerating. In July the company recorded 45,500 prescriptions bought and paid for. Looking for re-evaluation of stock price, analyst raising guidance/ pt’s, and to get in on the uptrend/ reversal.
- Bullish Harmonic Crab reversal at the 1.414 fib. extension level.
- TXMD has been heavily shorted for awhile now, look for shorts trying to cover, to add on pullback(s).
- Looking for potential continuation trade.
- Oscillators are flashing “overbought” after parabolic move. I’m not reliant on these oscillator levels but this stock is a stock to WATCH!
- Be careful chasing at these levels (watch for 382-50 retracement: levels noted on chart)
- TXMD seems to have now made a bottom. I will be looking to add on the dips.
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Tip #12: Fibonacci extension level between 1.272 – 1.414 are major psychological levels for “breathers” during uptrend/ downtrends.
Disclosure: I do not own #TXMD. I may buy/ sell within the next 72 hours. This is not a note to buy or sell, please do your homework before investing.