Hospira, Inc. provides injectable drugs and infusion technologies to develop, manufacture, distribute, and markets products worldwide. The company offers specialty injectable pharmaceuticals, which include approximately 200 injectable generic drugs in multiple dosages and formulations; proprietary specialty injectables, including Precedex, a proprietary drug for sedation; and Biosimilars that comprise Retacrit, a biosimilar erythropoietin, which is primarily used in the treatment of anemia in dialysis and in certain oncology applications, as well as Nivestim, a biosimilar filgrastim used for the treatment of low white blood cells in patients who have received a chemotherapeutic agent. It also provides intravenous solutions and nutritional products; and contract manufacturing services. The company serves hospitals, clinics, home healthcare providers, and long-term care facilities. It has collaborative arrangements with Bioceuticals Arzneimittel AG to license and market Retacrit; and Q Core Medical, Ltd to market and distribute Sapphire, a multi-therapy infusion system.
To review Hospira’s stock, please take a look at the 1-year chart of HSP (Hospira, Inc) below with my added notations:
Since July HSP has essentially been trading sideways while forming a common pattern known as a rectangle. A minimum of (2) successful tests of the support and (2) successful tests of the resistance will give you the pattern. HSP’s rectangle pattern has formed a $42.50 resistance (red) and a $38 support (blue). A break above $42.50 would also be a new 52-week high.
The Tale of the Tape: HSP is trading within a rectangle pattern. The possible long positions on the stock would be either on a pullback to $38, or on a breakout above $42.50. The ideal short opportunity would be on a break below $38.
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