Couple of trades from today Couple of trades from today, and how I follow the auction to enter trade, as well add to a trade at a higher price. Also trade with the direction of time frame continuity (e.g., D1, W1 up for instance)
26M trade ideas
MRTX Mirati Therapeutics Options Ahead of EarningsAnalyzing the options chain and the chart patterns of MRTX Mirati Therapeutics prior to the earnings report this week,
I would consider purchasing the 35usd strike price Puts with
an expiration date of 2023-9-15,
for a premium of approximately $0.57.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
Mirati Therapeutics (NASDAQ: $MRTX) Flashes Signs Of Reversal 🚦Mirati Therapeutics, Inc., a clinical-stage oncology company, develops product candidates to address the genetic and immunological promoters of cancer in the United States. The company develops MRTX849, a KRAS G12C inhibitor, which is in Phase I/II clinical trial for treating non-small cell lung (NSCL), colorectal, pancreatic, and other cancers; and Sitravatinib, an investigational spectrum-selective kinase inhibitor that is in Phase II clinical trial for the treatment of NSCL cancer, as well as a KRAS G12D inhibitor program, which is in preclinical development. It has a collaboration and license agreement with BeiGene, Ltd. to develop, manufacture, and commercialize sitravatinib; and a clinical collaboration agreement with Novartis Pharmaceuticals Corporation. Mirati Therapeutics, Inc. was founded in 1995 and is headquartered in San Diego, California.
Mirati Therapeutics good news. The price will start to rise soonI spent about 3 hours researching this company and I will divide my work into 3 parts. Last report, other positive news, and why you shouldn't open long position right now. Enjoy reading.
1) Mirati Therapeutics Reports First Quarter 2021 Financial Results (May 06, 2021)
The most important information:
- Initiated potentially registration-enabling trials evaluating our investigational KRASG12C inhibitor, adagrasib, in lung and colorectal cancers, as monotherapy and with other agents - POSITIVE NEWS
- Plan to file an Investigational New Drug (IND) application in 2022 for our investigational KRASG12D inhibitor, MRTX1133 - POSITIVE NEWS
- Presented preclinical data at AACR 2021 on an investigational synthetic lethal methylthioadenosine (MTA) cooperative PRMT5 inhibitor - POSITIVE NEWS
- Research and development expenses for the first quarter of 2021 were $104.1 million, compared to $71.7 million for the same period in 2020. !!!!!!!!!! - IMPORTANT
2) Other positive news (Jun 01, 2021)
- Mirati Therapeutics and Zai Lab Enter Into a Collaboration to Develop and Commercialize Adagrasib in Greater China
- Mirati to receive an upfront payment of $65 million, up to approximately $273 million in potential milestone payments and high-teen- to low-twenties-percent tiered royalties
3) Why you shouldn't open long position right now
First, there are too many resistance lines at the moment. I doubt that the price will suddenly rise now and break through all resistance lines.
After the May report, the price did not break the white resistance line. Most likely, the next report will raise the price and in my opinion, there is a good chance that it will end the bear market this year.
BUY to MIRATI THERAPEUTICS Hey traders, MIRATI THERAPEUTICS is in a great day of its history we can witness a new historical high. It is in a fake bullish surge with a strong buying volume at the start of the session and a hammer bear candle returned. In the TIMEFRAME M1 we can see a panic it goes to its low point which is just below the equilibrium zone. Then start again in its price rise with great likelihood of returning to the pre-session collapses after the VWAP is going to be tested. Then breakout the stabilization zone to join another and find a new resistance to make a new historical high.
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MRTX - SWING ANALYSISMRTX - As per the breakout happened with the volumes also coming in it is expected to go more high from the current levels.
Buy here at current price 209
Maintain stop loss around 194
Target upside 218- 234
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MRTX: Sort opportunityAn intraday high potential, Back Tested Sort Analysis.
We ll try to enter into the correction of the uptrend movement.
DETAILS ON THE CHART
NOTE: Entry range area above the entry point, is calculated upon 80% of the recorded pullback back tested past performances
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
$MRTX Trade steup for Mirati Therapeutics breakoutEntry level $118 = Target price $137 = Stop loss $115
Bullish price action on the breakout.
OBV indicator very strong as is the RSI
Volume dominated by buyers.
Short interest can still furl the rally at 14%
Company profile
Mirati Therapeutics, Inc. is a clinical-stage oncology company, which engages in developing a pipeline of oncology products to treat genetic, immunological and epigenetic drivers of cancer in subsets of cancer patients. Its clinical pipeline consists of glesatinib, sitravatinib and mocetinostat. The company was founded on December 13, 1995 and is headquartered in San Diego, CA.
$MRTX Upgrade bullish for Mirati Therapeutics. Entry level $74 = target price $89 = Stop loss $68.80
Citi analyst Yigal Nochomovitz continues to have favorable expectations for Mirati Therapeutics' (MTRX) initial MRTX849 data in Q4 and believes that a response rate in non-small-cell lung carcinoma in line with Amgen's (AMGN) ~50% should drive the stock "meaningfully higher." In addition, given the small sample size, the analyst believes that a slightly lower potential response rate, like in the 35%-40% range, "should not by default be viewed as inferior." He keeps a Buy rating on Mirati shares with a $130 price target.
Source the fly
Average analysts price target $109 | Overweight
Short interest 12%
Company profile
Mirati Therapeutics, Inc. is a clinical-stage oncology company, which engages in developing a pipeline of oncology products to treat genetic, immunological and epigenetic drivers of cancer in subsets of cancer patients. Its clinical pipeline consists of glesatinib, sitravatinib and mocetinostat. The company was founded on December 13, 1995 and is headquartered in San Diego, CA.
Reversal trade in Mirati therapeutics. AVERAGE ANALYSTS PRICE TARGET $109
AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT
P/R RATIO
SHORT INTEREST 12
COMPANY PROFILE
Mirati Therapeutics, Inc. is a clinical-stage oncology company, which engages in developing a pipeline of oncology products to treat genetic, immunological and epigenetic drivers of cancer in subsets of cancer patients. Its clinical pipeline consists of glesatinib, sitravatinib and mocetinostat. The company was founded on December 13, 1995 and is headquartered in San Diego, CA.
Congratulations if you opened this #biotech recently! ..Fresh breakout. $XBI $IBB $XLV #stocks #trading #investing
MRTX - Fallen angel breakout long from $4.43 to $5.93MRTX was discussed in the trading room last Thursday, and considered a long entry at $4.07 area. It went up 11% today. So how into it should be in good profit.
Who missed it, can look for a break of $4.43 & take a ride. It has good insider buying & it seem it has very strong upside potential.
* Trade Criteria *
Date First Found- July 17, 2017
Pattern/Why- Fallen angel pattern long
Entry Target Criteria- Break of $4.43
Exit Target Criteria- $5.93
Stop Loss Criteria- $3.97
Please check back for Trade updates. (Note: Trade update is little delayed here.)
MRTX - Fallen angel pattern long from $4.07 to $4.93MRTX forming a nice fallen angel formation. It is breaking through it moving averages. If it can break above $4.07 it can easily go to $5 area.
* Trade Criteria *
Date First Found- June 21, 2017
Pattern/Why- Fallen angel pattern
Entry Target Criteria- Break of $4.07
Exit Target Criteria- $4.93
Stop Loss Criteria- N/A
Please check back for Trade updates. (Note: Trade update is little delayed here.)
MRTX - Long from 5.43 to 7.44 & above MRTX forming a fallen angel pattern, just scooping through the moving averages now. Also great money-flow divergence, seems ready to run upward.
Possible entry criteria 5.43 to target 7.44 and Stop Criteria 4.87. we would tighten the stop after a further rally to $5.13
MRTX - Long from 5.37 or 5.71 which meet first MRTX forming a fallen angel pattern, just scooping through the moving averages now. Also great money-flow divergence, seems ready to run upward.
We are considering two possible entry, either pull back to 5.37 or break above 5.71 & two target of 6.83 & 9.77
You can check our detailed analysis on MRTX in the trading room/ Executive summery link here-
www.youtube.com
Time Span: 6:00"
Trade Status: Pending
