United Therapeutics (UTHR)
By Thu, Apr 8, 2021
Today’s Chart of the Week comes from our priceless Under the Hood report, which aggregates millions of data points to identify stocks with an unusual increase in investor attention.
This week, we’re looking at United Therapeutics (UTHR).
UTHR is coming out of a gorgeous 5 year base and we believe it will resolve higher.
Since we’re making the argument that this is breaking out to the upside, we need UTHR to be at or above $190.
Once UTHR is at that level, we are long, with a target of $260.
Biotech is a great space right now, we’ve got a beautiful base resolving to the upside, and with 70 points to gain, this is as ideal as risk to reward gets.
Til next week, good trading,
JC Parets
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About the Author
JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.
