MRNS Breakout! don't sleep on this one! 100% upsideLook at the flat top breakout triangle forming on the MRNS chart! Classic structure and even better yet; Price target consensus of $30 among wall street analysts!
MRNS
Can MRNS go the distance this week?"On Tuesday, the company earned attention from analysts at H.C. Wainwright. The research firm initiated coverage on MRNS stock. It gave the company a “BUY” rating as well as a price target of $5 per share. This was the 3rd analyst firm to initiate coverage on the stock this year. Previous to H.C. Wainwright, Jefferies and Leerink Swann both initiated coverage with “BUY” and “Outperform” ratings, respectively, for the penny stock. The two other firms also..."
3 Penny Stocks Making New Highs In September
NASDAQ:MRNS
MRNS continuation patternMRNS 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).
MRNS: PAY ATTENTION TO THIS LEVEL FOR A POTENTIAL BREAKOUTMRNS is making higher lows after the previous drop. Pay attention to the level posted on chart just in case of breakout, there is a big gap to fill. A strong breakdown under the rising trendline invalidates this setup.
