Telix is a biopharmaceutical company focused on the development and commercialisation of diagnostic and therapeutic pharmaceuticals. These are used to treat common cancers. Its main product is Illuccix, which is a prostate cancer imaging agent.
“We have looked at Telix Pharmaceuticals (TLX) on a number of occasions in the past year in a favourable light and it is once again providing us with a buying opportunity,” Michael said.
The 50-day moving average has generally been a good guide for TLX (see the blue line in the chart below).
“After briefly breaking under this March, the stock formed a double bottom near the February low (arrows) before getting itself back above the 50-day moving average.
“It therefore appears as though TLX is back in the uptrend and current prices are a buying opportunity.
“An initial stop can be considered back near $26,” Michael said.
Telix Pharmaceuticals (TLX)
Important: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. Consider the appropriateness of the information in regard to your circumstances.
