MGNX a biotech company gets new "Outperform" LONG
Updated
MGNX as a biotech company makes antibodies against certain cancers. The antibody is tagged to
chemotherapy molecules and then heads off looking for cancer cells to which it has a strong
affinity. So much for the science. MGNX just got upgraded and the new target is $ 16.00 about
25% upside. Biotech and healthcare are projected hot sectors this year.
On the 15 minute chart price jumped about 12% in the past week and bounced down toward
the anchored mean VWAP and is well situated for a long entry. the dual TF RSI indicator
shows both lines crossing the 50 level in early bullish momentum off the bounce.
It is continually hitting new past year highs at a great trend angle and is on pace to hit 400% for
an annual return. There is no option play here as the volume is minimal and liquidity is absent.
The all-time high is about $32 so there is plenty of room above the analyst's target over the long
term. Price has moved 12X the S & P YTD certainly a sign of relative strength.
chemotherapy molecules and then heads off looking for cancer cells to which it has a strong
affinity. So much for the science. MGNX just got upgraded and the new target is $ 16.00 about
25% upside. Biotech and healthcare are projected hot sectors this year.
On the 15 minute chart price jumped about 12% in the past week and bounced down toward
the anchored mean VWAP and is well situated for a long entry. the dual TF RSI indicator
shows both lines crossing the 50 level in early bullish momentum off the bounce.
It is continually hitting new past year highs at a great trend angle and is on pace to hit 400% for
an annual return. There is no option play here as the volume is minimal and liquidity is absent.
The all-time high is about $32 so there is plenty of room above the analyst's target over the long
term. Price has moved 12X the S & P YTD certainly a sign of relative strength.
Trade active
finance.yahoo.com/quote/MGNX/news/Trade active
s3.tradingview.com/snapshots/s/SyjrxDG6.pngTrade active
MGNX up 10% for the week overall. Holding full position. This is expected to bea long-duration swing trade. When the position is up 10% I will close 20% of the
position.
Trade active
Trade is up 15% - 20% of the position is closed trailing stop loss of 5% on the remaining 80% now a risk-free trade.
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