Descending Wedge on ITRM
Updated
I'm new to technical analysis, but this looks like a descending wedge pattern to me. Bullish, needs confirmation of the PDUFA date and can rocket. I listened to their CC this morning, ITRM is in communication and collaboration with FDA. They said as far as they know, the FDA approval can still be late July as planned. I'm bullish, I'd love to hear others thoughts.
Note
Yep, there they go! Time for another consolidation period building up to July 25. Could see it rock between 1.40 and 1.60 as we get closer to the PDUFA. Eventually 1.60 becomes support, then a climb to $3 by July 25.
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