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EYES Surges 9.31% On Good News

Published 12/11/2015, 01:42 AM
Updated 07/09/2023, 06:32 AM

Shares of Second Sight Medical Products Inc (O:EYES) surged 9.31% to $5.99 per share on massive volume after the news that the UCHealth Eye Center at University of Colorado Hospital has performed the first "bionic eye" procedure, restoring limited sight to a woman who has been blind for almost two decades. From a technical standpoint, the chart shows a bullish sign as the stock is back on top of its short-term EMAs. In addition, MACD is rising and RSI is back above 50% level which show beginning of bull market rally. I classify the declining 50EMA as a key resistance line since it has caused significant turning points in the price and held on the last three tests. However, a sustained break should bring the stock to a test of the recent highs around the $8 level. There seems to be a lot of room to run higher here it looks poised to break this falling wedge.

EYES Daily Technical Chart

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