Being below its below its 5, 20 & 50 day exponential moving averages and located in the middle of the declining channel the share price of MDXG
is considered strongly bearish
, though we would expect slight buying pressure. It might be attributed to a valid support level
which the stock used to touch several times in 2015 and 2016 but failed to violate.
Fundamentally analysts estimate an earnings
increase this quarter of 40% which should trigger an upward shoot.
We would project the price go up to the upper boundary of the channel as our first target.
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