Technical outlook – With only a history path going back roughly two and half years, Telix Pharmaceuticals Limited (TLX) has lost in the last five-weeks roughly half its value since prices peaked in early February 2020 at $1.68 peak.
The leading indicators Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) pattern currently hold to a negative outlook that suggests prices may continue in the short-term to the downside.
However, close towards the region of $0.50-60 may unleash the bulls.
Therefore, expect a rebound $1.20-25. Reassess from there.
Company Overview – Telix Pharmaceuticals Limited (TLX) is a clinical-stage biopharmaceutical company focused on the development of diagnostic and therapeutic products based on targeted radiopharmaceuticals or molecularly-targeted radiation” (MTR).
The company is headquartered in Melbourne with international operations in Brussels (EU), Kyoto (JP) and Indianapolis (US).
Telix is developing a portfolio of clinical-stage oncology products that address a significant unmet medical need in renal, prostate and brain (glioblastoma) cancer.