MEIP trade ideas
MEIP LongAnalysis of the MEIP instrument and the possibility of its future movement relative to price ranges.
MEIP BullishThe most recent candle closed above the .5 fib level and the MACD just crossed to the bullish side.
Friday's candle also tested the descending trend line. Looking for a close above the upper trend line to open a swing position.
Targeting: $3.19, $3.37, $3.52 in the short term.
Choppy chop chop down?Choppy price action. Broke out from the descending triangle but little volume thus the retracement back to the key s/r neckline. Three-point of confirmation above 4H support could be broken if volume does not pick up.
Not financial advice
MEIP Break OutMACD is curling up for a cross and the 9ema is crossing the 20ema. Last candle showed strength and closed just bellow the 50% fibonacci level which is resistance. Looking for a break of $3.90
Short term target $4.58
MEIP - Wedge BreakoutMEI Pharma
Possible wedge breakout
MEI Pharma is a pharmaceutical company, which engages in the clinical development of therapies for cancer. Its drug candidates include Pracinostat, an oral HDAC inhibitor that is being developed in combination with azacitidine for the treatment of acute myeloid leukemia and myelodysplastic syndrome. Its pipeline also consists of ME-401, an oral PI3K delta inhibitor; Voruciclib, an oral CDK inhibitor; and ME-344, a mitochondrial inhibitor. The company was founded on December 1, 2000 and is headquartered in San Diego, CA.
Both its technical analysis and fundamental reports look great. Both its technical analysis and fundamental reports look great. This is a perfect time to buy this stock.
MEIP Possible Bull RunRecent price action formed a Daily Pin Bar off historical horizontal support and trend line. There is also Bullish Divergence with respect price and STOCHRSI. The 50% FIB ($2.60) just above current price demonstrated it is respected as price sat on it for a bit. The confluence of horizontal and trendline support, pin bar and divergence make this trade a high probability long trade with an entry around $2.50 with observation of price action around the $3.00 area which is also the 61.8% FIB area.
$MEIP Wedge Volume RunnerAnother Wedge Breakout coming.
Insane volume relative to historic averages. This is a beauty.
MEI - the next move UP is startingMEI Pharma is starting its next move up (5).
The overall image of technical analysis remains positive.
I expect it to accelerate its uptrend.
MEI - a promising setupMEI Pharma is a drug development company with a pipeline of three clinical-stage drug candidates. The main focus of the company is oncology drugs development.
The company has enough cash to go through most of 2109 (cash is very important in this sector).
MEI Pharma is now close to enter in the period during which it will have two clinical products in phase 3 studies.
These are the promising Pracinostat and MEI-401.
What is very interesting with this Biotech company is that it recently had lots of interest from private investors in order to gather cash for its prospects.
From a Technical Analysis point of view, I find the stock very attractive.
It was back in April 2018 when Volumes started to increase and this proved the interest of investors.
The move started to build and the stock went sharply up in a solid Wave 3.
Now we are in a corrective phase (Wave 4) within a bullish pattern that should lead us to Wave 5 and much higher levels.
The move that MEI has now (4) either ended and we should see the new uptrend from here or there is still some more consolidation before the uptrend resumes.
For investors who are interested in this sector (Biotech) and at this promising company, this is the time to accumulate stocks of MEI.
I remain bullish and I expect soon to see the confirmation of the new Wave up (5)
Bio, start to build MEIP positionMEIP has AML data OS > 22 months, which is a very very good one. The stock goes died since mid 2015 because of another drug phase 2 failure. The AML one would go to phase 3 in the second half of this year. I think this would be a big one if we catch it. The consolidation has been happening for a while.
MEIP Day Trade Retest Gap (Brad Reed Feb20,2015)MEIP expected to open at 5.39 for a Retest Gap. Be aware of low volume and low $ stock To learn to trade this strategy for free go to www.RealLifeTrading.com
