Kramer said our government remains vigilant about protecting its people and military from biologic threats and continues to stockpile items like vaccines to ensure they're prepared. The benefits of immunizing against known diseases far outweigh the risks, he said.
Our country also continues to fight the opioid epidemic, Kramer said, and 97% of insurance plans now cover Narcan, its treatment for opioid overdose. The U.S. government spent $1.8 billion last year on items like Narcan, but also invested heavily in education and awareness for the 21 million patients who are prescribed opioids every year.
Let's check out the charts and indicators.
In this daily bar chart of EBS, below, we can see a double-bottom pattern in May and August followed by a rally into early November. Prices have made another consolidation pattern from September. Prices are currently above the sideways 50-day moving average line and the still declining 200-day moving average line.
The daily On-Balance-Volume (OBV) line made a low in late August and has moved higher telling us that buyers of EBS have been more aggressive. The Moving Average Convergence Divergence (MACD) oscillator is just below the zero-line, but poised to cross back to the upside and a fresh outright buy signal.
In this weekly bar chart of EBS, below, we can see that prices are up above the now rising 40-week moving average line. The weekly OBV line has been rising from May and tells us that longer-term buyers of EBS have been more aggressive. The weekly MACD oscillator turned bullish in November.
In this Point and Figure chart of EBS, below, we can see a potential upside price target in the $62 area.
Bottom line strategy: Risking to $50 traders could probe the long side of EBS.