TransEnterix Is Attempting To Break Out of a One Year Down Trend

19 mars 2015

TransEnterix is developing the SurgiBot, the first device to directly compete with Intuitive Surgical. In April of 2014, TransEnterix priced their secondary offering on the worst day the Nasdaq had experienced since 2011, which sent their secondary offering price from the $8.00 range to $4.00. In June of 2014 the company was included in the Russell 2000, which resulted in a runup to the $6.00 range. TransEnterix delayed the filing of their SurgiBot device by 6 months in November, which caused the one month sell off to an all time low of $1.50. Now that the company is nearing FDA submission of the SurgiBot, and after several presentations at health care conferences, TRXC is attempting to buck the down trend once and for all. I'm long TRXC, from a fundamental perspective, rather than a technical one. The first fib retracement from April 2014 highs to December 2014 lows is $4.30, then near $6.00