January 28, 2019

Trevena Inc. Gives Us An Opportunity To the Upside

The healthcare and biotech sectors were both bearish today. The overall US equities market declined over 1% during the session, as the markets were unable to find positive news catalysts in the wake of negative earnings results in major names in multiple sectors. This suggests that the markets are beginning to re-evaluate current stock valuations, especially considering already falling revenues over the last several years for many major names. On a positive note, we were able to successfully execute an entry signal for Trevena Inc. (TRVN) after the company released news of a path to FDA approval for their flagship product Oliceridine. Here’s a recap.

about the author:

Mike Patton

Mike Patton took the leap into the markets beginning as a commodities broker in 2005, where he was responsible for identifying trading opportunities and executing trades on behalf of clients. After years as a broker he made the jump to education by joining the team at Trading Advantage, now Prosper Trading Academy.

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