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Haemonetics Corporation announced U.S. regulatory approval for its PerQseal Elite Vascular Closure System. The stock edges higher on the day, trading at $118.73.
Haemonetics announced FDA approval of its PerQseal Elite Vascular Closure System. The system received approval for use in large-bore arterial procedures, according to PR Newswire. The approval expands the company's portfolio of clinically differentiated large-bore closure devices.
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Price is sitting right at support from the weekly low at $118.33. Shares of Haemonetics remain above the MA-20, MA-50, and MA-200, which preserves the broader bullish daily structure. The RSI at 66.2 is approaching overbought territory, suggesting that while the advance has been firm, further upside may be increasingly limited.
Traders should watch whether price holds above $118.33 to gauge if the recent move will gain traction. The stock has been testing support at $118.33 without breaking through it. Over the next five trading days, there is a 73% probability of an upside move and a 27% chance of a decline, with the anticipated trading range between $116.42 and $121.03. Even so, the past week has seen a sustained move higher with a firm trend. A close above $123.49 would show buyers are willing to follow through, while a drop below $118.33 would show the move is being faded. On the weekly chart, the longer-term picture stays firmly constructive.
Previously it was reported that Haemonetics maintained a broadly bullish technical structure, with shares supported by positive long-term momentum. The recent FDA approval of the PerQseal Elite Vascular Closure System reinforces this constructive outlook, and traders should monitor whether the stock can maintain support at $118.33 for signs of further continuation.