First, full disclosure - I took a position in MNMD on Monday of last week after it popped over the $5.00 barrier; it was a Trade Ideas (TI) "Trade of the Week" play, and I took it after careful tech analysis and considering the successes of the TI recommendations of the past. The stock took a dump on Tuesday, but I stayed in it because I thought the turndown was due to the anxiety in the overall market.
So, looking at the chart, the price held the 8-day EMA very well. The momentum is favorable for an increase in price, but I think this stock is subject to market conditions.
Several analysts (I think it is 7) have covered this company, and the target price looks to be intriguing. From Zolmax News:
The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $23.50
I did tie up a good bit of capital in this trade, so I will be selling some soon, bit I will hold a good amount as a long-term swing trade or investment.
So, looking at the chart, the price held the 8-day EMA very well. The momentum is favorable for an increase in price, but I think this stock is subject to market conditions.
Several analysts (I think it is 7) have covered this company, and the target price looks to be intriguing. From Zolmax News:
The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $23.50
I did tie up a good bit of capital in this trade, so I will be selling some soon, bit I will hold a good amount as a long-term swing trade or investment.