The most recent candle closed above the .5 fib level and the MACD just crossed to the bullish side.
Friday's candle also tested the descending trend line. Looking for a close above the upper trend line to open a swing position.
Targeting: $3.19, $3.37, $3.52 in the short term.
Choppy price action. Broke out from the descending triangle but little volume thus the retracement back to the key s/r neckline. Three-point of confirmation above 4H support could be broken if volume does not pick up.
Not financial advice
MACD is curling up for a cross and the 9ema is crossing the 20ema. Last candle showed strength and closed just bellow the 50% fibonacci level which is resistance. Looking for a break of $3.90
Short term target $4.58
MEI Pharma
Possible wedge breakout
MEI Pharma is a pharmaceutical company, which engages in the clinical development of therapies for cancer. Its drug candidates include Pracinostat, an oral HDAC inhibitor that is being developed in combination with azacitidine for the treatment of acute myeloid leukemia and myelodysplastic syndrome. Its pipeline also consists of...
Recent price action formed a Daily Pin Bar off historical horizontal support and trend line. There is also Bullish Divergence with respect price and STOCHRSI. The 50% FIB ($2.60) just above current price demonstrated it is respected as price sat on it for a bit. The confluence of horizontal and trendline support, pin bar and divergence make this trade a high...
MEI Pharma is a drug development company with a pipeline of three clinical-stage drug candidates. The main focus of the company is oncology drugs development.
The company has enough cash to go through most of 2109 (cash is very important in this sector).
MEI Pharma is now close to enter in the period during which it will have two clinical products in phase 3...
