Friday, Feb 10, 2017
 
 

Jazz Pharmaceuticals plc (NASDAQ: JAZZ)

 

Jazz Pharmaceuticals Public Limited Company, a biopharmaceutical company, identifies, develops, and commercializes pharmaceutical products for various medical needs in the United States, Europe, and internationally. The company has a portfolio of products and product candidates with a focus in the areas of sleep and hematology/oncology.

Take a look at the 1-year chart of Jazz (NASDAQ: JAZZ) below with my added notations:

1-year chart of Jazz (NASDAQ: JAZZ)

Over the past five months, JAZZ has formed a key level of resistance to watch at the $130 (red) level. The stock tested that mark once in mid-September, again in January, and one more time yesterday. A strong close above that $130 level should lead to higher prices.

ATTENTION SUBSCRIBERS!

Join our new Linkedin Group by clicking the link below:

Stock Trading & Investing for Everyone

The Tale of the Tape: JAZZ has a key level of resistance at $130. A long trade could be entered on a break through that level. However, if you are bearish on the stock, a short trade could be made on any rallies up to $130.

Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.

No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!

Good luck!

Christian Tharp, CMT

Follow me on Twitter: @cmtstockcoach

 
 

Christian Tharp, CMT

Want to know which trades to make, how to manage your stops and when to exit your trades? As a CMT with over a decade worth of experience in trading & mentoring traders, I’d like to offer you the opportunity to let me help you overcome all of your obstacles.

Click Here
 
 
 
 
Web Analytics