Look 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!
"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...
MRNS 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...
MRNS 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.