By Mill Chart
Last update: May 26, 2023
Our stock screener has spotted IVERIC BIO INC (NASDAQ:ISEE) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NASDAQ:ISEE.
Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.
Taking everything into account, ISEE scores 10 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, ISEE is showing a nice and steady performance.
Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NASDAQ:ISEE this score is currently 8:
Besides having an excellent technical rating, ISEE also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 38.03. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 37.38, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.
This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.
Every day, new breakout setups can be found on ChartMill in our Breakout analyzer.
IVERIC BIO INC
NASDAQ:ISEE (5/25/2023, 7:00:02 PM)
After market: 37.71 0 (0%)37.71
+0.1 (+0.27%)
Mixed trial results on a geographic atrophy eye drug led investors to sell the biotech stock.
/PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws...
/PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws...
/PRNewswire/ -- Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of IVERIC bio, Inc....
/PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws...
These three biotech stocks were on the volatile side today.
The company is working on a treatment for the eye disease known as geographic atrophy.