Will Aerie Pharmaceuticals Hold its Support Level? Aerie Pharmaceuticals (AERI) is approaching a support level. If this support level is broken, a breakdown is expected.
By Christian Tharp •
This story originally appeared on StockNews
Aerie Pharmaceuticals (AERI) is approaching a support level. If this support level is broken, a breakdown is expected.
Aerie Pharmaceuticals, Inc. (AERI) engages in the discovery, development, and commercialization of therapies for the treatment of patients with open-angle glaucoma, retinal diseases and other diseases of the eye.
Take a look at the 1-year chart of AERI below with added notations:
After its October to January rally, AERI has settled on top of a key level of support at $15 (green). The stock appears to be falling back down to that support again, and another bounce could start from there. However, a break of $15 could mean much lower prices for the stock.
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A trader could enter a short position could be entered if it breaks the $15 support level with the expectation of a breakdown.
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AERI shares were trading at $15.54 per share on Friday morning, up $0.01 (+0.06%). Year-to-date, AERI has gained 15.03%, versus a 17.75% rise in the benchmark S&P 500 index during the same period.
About the Author: Christian Tharp
I am an expert stock market coach having helped over 4000 beginner and advanced traders & investors from around the world take control of their financial futures. I also write stock market related articles for the Adam Mesh Trading Group and Yolo Publishing.
