2 Reasons Why This Drug Stock Will Struggle Next Month [Forbes]
Endo International plc - Ordinary Shares (ENDP)
Last endo international plc - ordinary shares earnings: 2/26 06:00 am
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Source: Forbes
2 Reasons Why This Drug Stock Will Struggle Next Month Endo International plc (ENDP) will take its turn in the earnings confessional later this week, its first-quarter report set for before the market opens, Thursday, May 9. Ahead of the event, the Ireland-based drugmaker has crept up to a trendline that could have historically bearish implications. More specifically, Endo stock recently ran up to its 60-day moving average after spending a considerable amount of time below the trendline. According to Schaeffer's Senior Quantitative Analyst Rocky White, the last five times ENDP encountered this trendline in the past three years, it went on to average a drop of 11.4%, one month later, and was lower 60% of the time. At last check, ENDP was down 2.4% to trade at $8.07, meaning a drop of a similar magnitude would put the stock around $7.15, and back below its year-to-date breakeven level by next month. This $7 area is also the site of the stock’s 2018 pre-bull gap levels, as well as home t
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