Biotech Stock Rally Could Soon Take a Breather
Akero(AKRO) Schaeffers Research·2024-01-10 04:55
The shares of Akero Therapeutics Inc (NASDAQ:AKRO) have been steadily climbing from their November lows following a steep early October bear gap, though pressure seems to have appeared at the $25 level. Plus, if past is precedent, the biotech name could be headed for a short-term dip. AKRO's recent rally took it within one standard deviation of its 80-day moving average, a trendline with historically bearish implications. According to Schaeffer's Senior Quantitative Analyst Rocky White, the equity stock has ...