In the Zone

Second Sight Medical Products, Inc.

 

In the Zone this week is Second Sight Medical Products, Inc. which trades on the Nasdaq Composite Index under stock symbol EYES.

                                                                                                            

Second Sight Medical Products, Inc., together with its subsidiaries, develops, manufactures, and markets implantable visual prosthetics that are intended to deliver artificial vision to blind individuals. It develops technologies to treat the population of sight-impaired individuals. 

The company offers the Orion Visual Cortical Prosthesis System, an implanted cortical stimulation device, which is intended to provide useful artificial vision to individuals who are blind due to various causes, including glaucoma, diabetic retinopathy, optic nerve injury or disease, and eye injury. 

It also offers Argus II Retinal Prosthesis System for treating retinitis pigmentosa in which has gotten approval from the FDA on March 5, 2021.

 

If you have a close look at a chart of the company you can see that the stock took off after FDA approval from a price low of $1.40 to a price high of $20.00. Since then the stock has declined to support at $9.75 and is now advancing. The stock is currently up 985.71% and is poised to move higher. What I am looking for in the days a head is a breakout in price above $15.48 to $15.53 in order for this stock to continue it advance.

 

At the close of the market on Friday the stock ended the day trading at  $15.20 up $4.00 or 35.71% on heavier than average trading volume of 45.63 million. The average daily volume for the stock is 40.61 million.

 

In the week ahead keep this stock on your radar for a continued price advance to the upside.

 

 By Marlin Rolle

 

Please note that all the stocks listed are not buy recommendations; please do your own due diligence or get help from a professional before trading.