If it holds support, it'll take off and head towards the top end of the range. Check out the crazy Call Options volume for the 8/18 $7.5 Strike Price... over 23,000 for this little unknown Pharma company. Somebody knows something... don't you think? Mersana Therapeutics, Inc. is a clinical-stage biopharmaceutical company, which engages in the development of...
Mersana is currently right at the resistance within a big falling wedge - a bullish pattern upon eventual breakout. What separates this case from the normal breakout is that Mersana recently made a perfect RSI closing on the lower bullish red line. As discussed in detail in the RSI trilogy, once the RSI comes from low levels (as in below the lower bearish blue...
Mersana Therapeutics, Inc., a clinical stage biopharmaceutical company focusing on the development of antibody drug conjugate (ADC) for cancer patients with unmet need. After an insider at Mersana Therapeutics bought shares following a May 2020 selloff triggered by an interim data release, the stock rallied over 400% during the next eight months. Another...
Ever since that crazy drop MRSN has been rangebound. As you can see, the channel can be split into two smaller channels. This is the ideal scenario to buy the bottom and sell the top. The Stochastic RSI is your best friend in this type of setup. If you are more conservative, wait for the candle to touch support and look for a bullish crossover on the RSI. That is...
I bought into this stock for a swing trade after the huge drop but was stopped out for minimal loss. I noticed it has been rangebound for a while so I started buying the bottom and selling the top of the channel. Reasonably lucrative so far. It broke outside of the channel so the pattern may have been broken. If it goes back into the channel I will start trading...
After breaking above the v-bottom neckline MRSN is now retesting the breakout level for the tenth time after the breakout. Given the fact that the price dropped 40% from the recent highs and that this seems to be a strong support level I am entering a trade tomorrow with a stop loss just below the neckline. Seems to be as safe a play as it gets. ***If you get...
Made a good pullback today on the month support and week trend......
MRSN is right at the 52 week highs and forming a tight flag pattern . My plan was to get long above 9.50, clearing the HVN, with a stop loss below 8.48. Entry - 9.52 Stop Loss - 8.48 Target - 12.50 I am planning on taking small profits above 10 and holding the rest with the trend.
Shares of Cambridge-based Mersana Therapeutics Inc. plunged Monday despite announcing that the FDA would allow it to fully restart a cancer drug trial that was paused in July after one patient died. www.bizjournals.com globenewswire.com