$MDCO Breaks Out, Expect Further Gains$MDCO has been having a banner year with the stock up over 200%. We think this rally still has legs and that $MDCO is going to keep climbing after Monday's huge breakout. Here's a look at what drove Monday's breakout.
Results from a Phase 3 clinical trial, ORION-9, evaluating the effect of The Medicines Company's (MDCO +2.3%) inclisiran on reducing "bad" cholesterol (LDL-C) in patients with familial hypercholesterolemia (FH), an inherited condition characterized by abnormally high levels of cholesterol in the blood, showed a treatment benefit. The data were presented at the American Heart Association Scientific Sessions in Philadelphia.
The study met the primary endpoints of percent change in LDL-C from baseline to day 510 (50% reduction) versus placebo and time-averaged percent change (45% reduction) in LDL-C after day 90 up to day 510 versus control. Both values were statistically significant.
No new safety signals were observed.
The results will be submitted for presentation in a peer-reviewed medical journal. The company expects to file a U.S. marketing application this quarter and one in Europe next quarter.
The company will host a conference call today at 12 noon ET to discuss the results from ORION-9 and ORION-10.
In other news, there are also rumblings this morning that Novartis (NYSE:NVS) may be circling.
As always, use protective stops and trade with caution.
Good luck to all!
MDCO
MDCO - Take Your Medicines!Bullish Ascending Price Channel had formed from December 2018 until it finally broke out in early September. The price consolidated for a bit before rising further.
I am expecting a pullback that could retest the previous resistance line of the price channel around the $50 level.
MDCO- support breakdown short from $37.33 to $34.33MDCO just breaking down some long term support. We think it has good downside potential if it breaks below $37.33
* Trade Criteria *
Date First Found- June 15, 2017
Pattern/Why- Long term support breakdown short
Entry Target Criteria- Break of $37.33
Exit Target Criteria- 1st target $34.33
Stop Loss Criteria- $39.33
Please check back for Trade updates. (Note: Trade update is little delayed here.)
MDCO - Short from 33.23Upward channel break down in longer frame & formed a pennant now. Money-flow is moving down. We think it will decline around 30
You can check our detailed analysis on MDCO in the trading room/ Executive summery link here-
www.screencast.com
Time Span: 33:00”
Trade Suggestion Date: 5th Jul
Trade status: waiting for entry confirmation
