Five states to join lawsuit of OxyContin maker Purdue Pharma
Five U.S. states filed lawsuits accusing Purdue Pharma of illegally marketing and selling opioids, escalating the wave of litigation over a nationwide abuse epidemic. Iowa, Kansas, Maryland, West Virginia and Wisconsin joined 39 states to file lawsuits targeting Purdue Pharma and its leaders, including former president Richard Sackler and his family.
Officials accused Purdue Pharma of repeatedly making false and deceptive claims that opioids, including OxyContin, were safe for a wide range of patients seeking to reduce pain.
Purdue Pharma called the new lawsuits “misleading attacks.” “These complaints are part of a continuing effort to try these cases in the court of public opinion rather than the justice system,” the Stamford, Connecticut-based company said.
FTXH in downward trend: price dove below 50-day moving average on November 29, 2024
FTXH moved below its 50-day moving average on November 29, 2024 date and that indicates a change from an upward trend to a downward trend. In of 50 similar past instances, the stock price decreased further within the following month. The odds of a continued downward trend are .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 63 cases where FTXH's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where FTXH declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where FTXH's RSI Indicator exited the oversold zone, of 24 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on November 29, 2024. You may want to consider a long position or call options on FTXH as a result. In of 91 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for FTXH just turned positive on November 26, 2024. Looking at past instances where FTXH's MACD turned positive, the stock continued to rise in of 47 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where FTXH advanced for three days, in of 300 cases, the price rose further within the following month. The odds of a continued upward trend are .
FTXH may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
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