|Day Low/High||103.66 / 104.22|
|52 Wk Low/High||62.57 / 151.51|
For now I would take a wait and see approach.
Continue to hold previously recommended longs.
The migraine drugmaker has been sending weak technical signals for a few months now.
BHVN has made a relatively big advance since April and a period of consolidation or sideways price action is probably likely at this time.
Despite the lackluster action there are some pockets of good stock picking again.
Eagle Pharmaceuticals, Biohaven Pharmaceuticals and Acadia Pharmaceuticals are names to consider on a 10% move down in equities.
Even if you are bullish and want to try to ride the uptrend the entry points are extremely difficult.
You can't rush drugs to market and you can't rush a market bottom.
The trade involves using a buy-write option strategy after negative news knocks down a biotech stock into oversold territory.
Market players have one eye on Fed Chair Jerome Powell who is testifying before Congress.
Here are my takes on stocks in biotech and other companies I own right now.
This looks like a normal pause within an uptrend.
Be zen and keep emotions out of investing decisions. It can pay off in higher portfolio returns.
These stocks look ripe for a buy-write options win.
A dovish Fed will weaken the dollar, which will weaken gold, and vice versa.