Professor’s Comments ARRY 3/20/17

Posted by OMS  at March 20th, 2017

Yesterday, Array BioPharma Inc. (ARRY) said that it has withdrawn its new drug application for the treatment of a rare skin cancer.

The action was based on discussions with the FDA, including exploration of various paths to approval. Based on feedback from the agency, Array concluded that the clinical benefit demonstrated in the Phase 3 trials would not be found sufficient to support approval of the drug.

ARRY was highlighted as a potential short two weeks ago, based on a classic Head & Shoulders topping pattern. This morning the stock is down almost 30 percent in pre-market trading.

Like I said when the stock was highlighted, students should check to see if any of their stocks are developing similar patterns.

One hour video recorded from May 28, 2016 The Professor’s Signs of a Major Market Turn – Prospectives and the Projected Timing and Levels One hour streaming video – includes webinar handouts The Professor usually holds an update class whenever the Market looks like it may be making a major turn. If you have been following the Professor’s Comments you know that a turn is due….. LEARN MORE

Not sure of the terminology we use? Check out these articles

The Hockey Stick Pattern
The Creation of Waves and Trends
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