![\"\"](\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/Acrux_technicals.jpg\")
<\/p>\n\n\tBy Rudi Filapek-Vandyck<\/p>\n
\n\tHealthcare analysts at RBS Morgans have stuck to a positive view on biotech Acrux ((ACR)) and this view was again reiterated in an update on the company this week. This update was triggered by the securities surging past $2.60 which was the short term target earlier put forward by the analysts.<\/p>\n
\n\tSo what now? Well, say the analysts, given the steep rise in the share price recently it would not be inconceivable that some investors will opt for some profit taking and this might trigger some temporary weakness in the share price.<\/p>\n
\n\tBut for those willing to stick around a little longer there should be plenty of more upside to look forward to, suggest the analysts. They have a medium term price target of $3.08 for the shares and a longer term price target of $3.50.<\/p>\n
\n\tMoreover, both analysts put the question to the technical analyst in the office and they received an equally bullish technical assessment in return.<\/p>\n
\n\tThe technical view pretty much falls in line with the fundamental view on Acrux: short term the stock looks overbought, but longer term $3.50 seems possible.<\/p>\n
\n\t<\/p>\n
\n\tPut in technical lingo, this becomes: “The [recent] breakout confirms a large Rectangle pattern and signals the continuation of the primary up trend. The first potential medium-term upside price target is $3.08, however levels towards $3.50 are feasible over the long-term.”<\/p>\n
\n\tIt's probably a waste of space, but RBS Morgans rates the stock Buy. (Of course!)<\/p>\n","protected":false},"excerpt":{"rendered":"
RBS Morgans remains positive on the outlook for shares in biotech Acrux.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[39],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/57352"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=57352"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/57352\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=57352"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=57352"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=57352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}