Relative Strength MedTech Pharma Name Setting up Breakout Higher
Halozyme Therapeutics (HALO) shares of the MedTech name are forming a strong bull flag and bigger picture cup and handle above its key moving averages near the 60 level and was a name that did not even test its rising 200 EMA during the market correction. HALO now sees a MACD bull cross triggering to start the week and looks poised to break above one year value high of 61 on the way to the former highs near 65 while a stronger surge above that would see new all time highs with no resistance. HALO is a $7.5B healthcare name with its main earnings driver being the royalty stream derived from revenue that the drugs of partner companies generate post co-formulation with HALO’S ENHANZE platform. HALO still has nearly 800 December $60 calls in OI from last Fall.