Midcap Pharma Name Setting up Coiled Breakout from Flag
Jazz Pharma (JAZZ) shares are coiling up tightly and triggered a bullish MACD cross Monday as it closed green by +2% in a ugly tape with healthcare names seeing money flows and outperforming. JAZZ has a strong chart setup for a breakout above 125 from here that can see a swift move up to its 52-week high of near 134 with a first target likely ideal near 130. JAZZ rarely sees options flows of note but last month did see a buyer of 300 December $160 calls at $5.00 which remain in open interest. Truist is a large bull on the stock as it recently raised its target to $220 and maintained a Buy rating.