Chart of the Week: Travere Therapeutics
Hey good morning everyone. Time for our chart of the week for May 6. We’re gonna take a look at biotech name called Travere Therapeutics; TVTX is the symbol here.
Stock is in a nice uptrend over here and it’s broken out up above recent highs. Let’s take a look at the chart with me right now.
Notice that the huge gap up in the early part of April, right over here, was on really strong, heavy volume. You can see that pretty clearly right here, all the way down. Huge volume day. We had a huge volume day to the downside in [2025]. It nearly matched that in early April. Ran up, pulled back down a little bit for about 8-10 days and then just last week, bolted out higher on good volume right over here.
Indicators are strong. We can see that the MACD is on a buy signal.
Money flow is very strong too. You can see that that is showing really good strength. It’s been in the positive for months.
A new indicator that we take a look at is called the Chandy trend meter. This is also up near the 90 level, which is actually very bullish for the stock.
But what really got me going on Travere was, when it gapped up it came in and tested these levels here from back in late [2025]. Take a look at that. We gapped above there, came back and tested it and bounced off of it and have been rising up ever since.
In fact, once the stock can get above $57-58, we’ll have the stock really ready to release and move to the upside. It’s not there yet. It’s only about $45 right now. And why is that? That would be 100% above the 200 day moving average. Two hundred day moving average comes in about $28.90, let’s call it $29. It’s about $57.5-58 would be where this thing could really release and take off to the upside.
It’s a little overbought right now. Of course we all know that overbought is just a condition, it’s not a signal. It doesn’t necessarily mean we have to sell the stock or stay away from it.
But it’s got a lot of momentum over here. Certainly the last couple of days have seen the stock rising up nicely from about $40 up to the $44 level.
So again, I think this thing can get to about $55-59. Maybe pull back a little bit off that run here and then make a large surge into maybe the $75-80 area eventually.
Take a look at TVTX; it’s one of the top names in the IBD universe right now. It’s got a very high composite rating. Accumulation distribution is extremely strong on Travere right now.
So, take a look at TVTX. Thanks so much for watching everyone, and I’ll see you guys next time.
