AlphaRX Review

AlphaRx is a specialty pharmaceutical company dedicated to developing proven therapies by reformulating FDA approved and marketed drugs which through the application of its proprietary site-specific drug delivery technology, offers improved medical benefits and a potential for significant commercial product development. [This appears on the bottom of their press releases.]

As can be seen on the chart AlphaRx began to trade up from $0.03 after their May 15, 2009 quarterly report was issued. A huge increase in trading volume helped drive the price up to $0.195 by July 27, a huge move in just two months. Not surprisingly after a quick price spike the price has experienced a 55% retracement to $0.10. Technically, the chart shows huge support at $0.08 and some small resistance at the 200 day moving average at $0.11. AlphaRx appears to be oversold and any sustained buying and a small increase in volume could easily cause a break through the 200 day moving average with a subsequent run to test the July highs at the $0.20 level. Longer term forecasts remain bullish with the company pursuing collaborations with Chinese interests.