KINIKSA PHARMACEUTICALS LTD. - [KNSA]Kiniksa Pharmaceuticals, Ltd.
Trend : The stock has been in a strong uptrend since late June 2024, with the price rising from around $19 to a high of $27.88.
Moving Averages : The price is currently above both the short-term (likely 50-day) and long-term (likely 200-day) moving averages, indicating bullish momentum.
Support and Resistance :
➢Key resistance level around $27-28
➢Support levels at around $24 and $22
Volume : There was a significant spike in trading volume in late July, coinciding with the sharp price increase. This suggests strong buying interest.
Price Action : The stock has shown some consolidation recently after the sharp rise, forming a potential bull flag pattern.
Volatility : Increased volatility is evident in the wider price ranges of recent candles compared to earlier periods.
Indicators (based on visible chart elements) :
➢The stock is trading above the upper Bollinger Band, suggesting it might be overbought in the short term.
➢The recent pullback has brought the price closer to the moving averages, potentially setting up for another move higher if support holds.
Overall Outlook : The chart appears bullish overall, but the stock may be due for a short-term pullback or consolidation after its recent strong run-up. Traders might watch for a potential breakout above the recent high of $27.88 or a deeper retracement to support levels.
KNSA trade ideas
KNSA Ascending Triangle and PDFUAHello,
Please pardon my charting. I find it is best to combine TA and some DD for the best trades lately. Definitely a solid level of resistance and higher lows in the weeks leading up.
Notes regarding the drug in question, Rilonacept, which addresses recurrent pericarditis.
"In RHAPSODY, the primary efficacy endpoint of time-to-first adjudicated pericarditis recurrence in the randomized withdrawal period was highly statistically significant (Hazard Ratio = 0.04, p<0.0001). Additionally, annualized incidence of pericarditis recurrence decreased from 4.42 episodes per year prior to the study to 0.15 episodes per year while on rilonacept treatment. All major secondary endpoints were also highly statistically significant.
Rilonacept was well-tolerated in the study, with adverse events consistent with the U.S. Food and Drug Administration (FDA)-approved label for the treatment of Cryopyrin-Associated Periodic Syndromes (CAPS). The most common adverse events were injection site reactions and upper respiratory tract infections. There were no drug-related serious adverse events."
this looks good.
Ride the MomentumAnnounced that six COVID-19 patients treated with mavrilimumab in Italy all responded to treatment, and 3 patients were discharged within 5 days.
A follow-on controlled study in Italy is planned. Shares closed the week up 43% to $17.91.
- BioPharmCatalyst
Breaking through the recent top will be a strong indicator for further upside movement.
Hovering aorund the recent top without a follow through could indicate not enough buying power and distribution is taking place and a strong move in the downside direction could occur.
Take the potential support levels with a grain of salt as there is only 52.23M Shares Outstanding and a share float of 18.79M.
Short Float is currently 7.19%
Consensus Analyst Profit Target = 25.50$ according to MarketBeat
Most recent: 4/1/2020 Bank of America 25$