MRNS continuation pattern
MRNS is following a general uptrend (and has been since the beginning of the year), while holding below a previous level of strong resistance (temporarily broken in September of last year). Today's decrease of about 4% was on low volume as opposed to previous days where the selling was more substantial. RSI is just below 50 which is about as low as it's dropped for this entire uptrend before breaking higher. I would expect MRNS to break through the key resistance level of about $1.75 within the next 1-2 flag patterns, so long as buy volume is strong. Buying $1.50-$1.55, stop loss around $1.45 (previous low on March 21st, denoted by red dotted line), and target price of $1.75+ (previous high March 31st and level of significant resistance denoted by green dashed line).
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.