AUPH Aurinia Pharmaceuticals Options Ahead of EarningsAnalyzing the options chain and the chart patterns of AUPH Aurinia Pharmaceuticals prior to the earnings report this week,
I would consider purchasing the 7usd strike price Calls with
an expiration date of 2024-3-15,
for a premium of approximately $1.50.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
AUPH
AUPH Inverse H&SPrice has broken out of a down channel
I see this breaking down slightly back into the channel, forming a right shoulder along the yellow horizontal and then continuing to pursue the reversal above the channel
Lets see what happens on this Weekly chart
Bars pattern in green shows my idea
Head and Shoulders projects $9.5-10.50 consolidation zone
41% retracement from head to neckline, so 41% from neckline puts it at $10.50. There are multiple horizontal support zones, see chart that also correspond to this zone $9.50 - 10.50. Greenleaf (CEO) is a complete clown. Issuing a statement last week that guidance will likely be aggressive then he issued guidance that was approximately 30% below the analysts. He is a drag on this stock however at 1.5B market cap and projected annual sales of approximately 1B, this appears to be a good entry point now or waiting until the 9.50-10.50 zone.
Ascending Triangle Formation and Breech We formed an ascending triangle as we approached resistance at $6.60. We have appeared to break above the top level in a bullish manner which could result in a bullish afternoon if we do not retrace back below $6.60. Hopefully, this trend will continue throughout the end of the day and into next week.
AUPH forming strong cup and handle with a hammerAUPH has great science, the only trouble that they had were deaths that were determined not to be caused by the drug. They are treating lupus, deaths are going to happen. Whether you are long or short on it, it has been set-up for a great day for Tuesday. News was announced Monday that they have been selected to present at two different medical conferences. Their results have been good, and things are looking good for their drug.