The biotech sector keeps producing big winners. KYTH – Kythera trading at new All Time Highs announces takeover. The technical set-up both KYTH and RDUS have in common is that both are trading at all time highs and offer lots of pattern pressure. Now that doesn’t mean RDUS will get taken over, but closing at a new all time high most often means odds for more good things to come are very high.
As Jesse Livermore says:
Successful traders always follow the line of least resistance. Follow the trend. The trend is your friend. – Jesse Livermore
The RDUS – Radius Health chart looks great and if you follow me on Twitter you got stopped into the stock today like I did.
$RDUS Biotech stock near its all time high offering potentially interesting cheater entry. $IBB $XBI $SBIO pic.twitter.com/2btqE7KGTL
— Olivier Tischendorf (@Tischendorf) June 10, 2015
Click on RDUS daily chart to enlarge:
Today RDUS closed at a new all time high and looks poised to go much high if we get bullish follow through.
Conclusion: For good things to happen you simply need to get exposure to high quality set-ups. The easiest way to do so is to focus on stocks trading at or near their all time high.
Update 06/18/15: Potential technical price target: 100$
RDUS company description from Yahoo finance:
Radius Health, Inc., a biopharmaceutical company, focuses on developing therapeutics for patients with osteoporosis and other serious endocrine-mediated diseases in the United States. The companys lead product comprises abaloparatide SC (BA058), a novel synthetic peptide analog of parathyroid hormone-related protein that is in Phase III clinical development for use in the reduction of fractures in postmenopausal osteoporosis; and Abaloparatide-TD, a line extension of abaloparatide-SC in the form of a transdermal patch that has completed Phase II clinical trial, which is used to increase bone mineral density. It is also developing RAD1901, a selective estrogen receptor down-regulator/degrader, which is in Phase I clinical trial for the treatment of metastatic breast cancer and other estrogen receptor mediated oncology applications, as well as in Phase II proof of concept study for the treatment of vasomotor symptoms; and RAD140, a nonsteroidal selective androgen receptor modulator for the treatment of breast cancer or other conditions. The company has collaborations and license agreements with Nordic Bioscience Clinical Development VII A/S; 3M; Ipsen Pharma SAS; Eisai Co. Ltd; and Lonza Group Ltd. Radius Health, Inc. was founded in 2003 and is headquartered in Waltham, Massachusetts.
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