MGEN Done Going Down Or Just A Pit Stop?MGEN has been getting hammered lately. Not one single green close in the last few weeks. Friday was the first, somewhat green close and that ain't saying much. But trading action was interesting.
"riday’s action was something much different than what the penny stock had seen during the 2 weeks prior. It was the first trading day that MGEN shares didn’t close red. If you look at the chart, since October 9th, the penny stock saw a red close every day...Furthermore, trading action continued to push shares higher during after-hours on Friday."
Original Quote Source: 5 Penny Stocks On Robinhood To Buy Under $2; Are They Too Risky?
MGEN
$140 on NNVC in 30 minsCouple other positions didnt go as planned so I decided to exit at break even. Overall green day!
$MGEN - Bullish Momentum - Big Push PossibleMiragen Therapeutics, Inc. is a clinical stage biopharmaceutical company, which engages in the development of proprietary RNA-targeted therapeutics. Its product pipelines include MRG-106 that focuses on the treatment of blood cancer; and MRG-201 deals with the treatment of pathological fibrosis. The company was founded by William S. Marshall and Bruce L. Booth in February 2006 and is headquartered in Boulder, CO.
SHORT INTEREST
688.73K 09/30/19
P/E Current
-0.77
P/E Ratio (with extraordinary items)
-0.66
Average Recommendation: BUY
Average Target Price: 11.00
MGEN - Downward channel breakout long from $7.25 to $8.87MGEN also from Thursdays trading room discussion. It was moving along the upper channel line after breaking out of a channel formation and got some upward momentum now. We think it will continue upward from here.
* Trade Criteria *
Date First Found- May 3, 2018
Pattern/Why- Downward channel breakout continuation.
Entry Criteria- Current Levels ($7.25)
Exit Criteria- $8.87
Stop Loss Criteria- $6.43
Indicator Notes- Twiggs money crossed to the positive
Please check back for Trade updates. (Note: Trade update is little delayed here.)
MGEN - Speculative breakout Long from $6.20 to $7.37 & $9.33MGEN is speculative long setup. Its a bit risky but it can be great rewarding as it has huge volatility. After a recent decline, it is getting some upward push along with some insider buying. We think it will continue upward from here.
* Trade Criteria *
Date First Found- March 7, 2018
Pattern/Why- Speculative breakout Long. Possible longer-term momentum play
Entry Criteria- Current price ($6.20) (Hit March 8, 2018)
Exit Criteria- 1st Target $7.37 (Hit March 8, 2018), 2nd Target - $9.33 (Updated March 9, 2018)
Stop Loss Criteria- $5.33
Special Note- Heavy recent insider buying
Please check back for Trade updates. (Note: Trade update is little delayed here.)
