(Finance) – Shine Passage Biowhich changes hands with an increase of 33.53%.
Wedbush initiated coverage on the biotech company’s stock with an “outperform” rating.
Comparing the performance of the stock with the Nasdaq 100on a weekly basis, we notice that Passage Bio maintains positive relative strength in comparison with the index, demonstrating a greater appreciation by investors compared to the index itself (weekly performance +66.06%, compared to +0.73% of theindex of US technology stocks).
The technical status of Passage Bio is strengthening in the short term, with resistance area seen at USD 0.9665, while the first support is estimated at 0.7919. The technical implications point towards an expansion of performance in a bullish direction, with resistance seen at 1.141.