Radius Health Looks Poised For A Big Move
Radius Health has been in the process of forming a symmetrical triangle since its IPO, and it is finally nearing its apex. It will be important to see where RDUS ends the week and if it can hold its long term uptrend, but based on short term price action, it doesn't look so good.
The stock was rejected at its 61.8% fib retracement level and has been nearly cut in half since. A death cross occurred in January, and the stock was decisively rejected at its 50 day MA today, falling 9%. All momentum indicators have taken a nosedive.
If the stock breaks above the triangle, $46 would be a key level to watch, and if it breaks that, $60 is likely.
If RDUS breaks below the triangle, look for support at $25.