Longs, I am sorry to write this but this is the way I see it.
Bulls failed today, I sold first half of my position because I had too much.
Bought much more defending the stock yesterday. Later, I saw that bulls are too sleepy and $MLNT likely will slide.
So, this is the reason I sold the rest. As I see it now it was the right call. Bears setting this up for a...
If you can find shares to short, this is a high probability set up.
Half way point: First Target
Buy to cover zone: Second Target
Keep in mind fees to short this POS could be high, nonetheless the set up has great risk/reward.
Entry points: Intra-day double-top (if it makes it there)
After next red day, place sell order below that day.
Very undervalued stock. 52 Week High was $46.00 52 Week Low was $3.22 Revenue for the 4th quarter of 2018 was $35.5 million, an 739% increase year over year. Total revenue for the year is $96.4 million. Could do 2x-3x from this level.
Key data presentations at ECCMID 2019 include:
Integrated Symposium Presentations
•“Update on acute bacterial skin and skin...
Possible uptrend continuation into March 12th earnings.
*320% expected quarterly revenue.
*50% decrease in short interest.
*NDA filing on phase 3 data for Baxdela in 1H 2019.
*19% volume increase in past 4 days.
Entry Points - 1.32 - 1.45
Price Targets - 1.72---2.00---2.26---2.43
Stop-Loss - 1.25
Melinta Therapeutics Company Profile
Melinta Therapeutics, Inc,...
Possible Continuation into March 12th earnings.
*Expected quarterly revenues up 320%.
*Short interest has decreased 50.2% since mid December.
*Average daily volume is up 19% over the past 4 days.
*NDA filing for Baxdela Phase 3 data 1H 2019
Entry Points: 1.32-1.45
Price Targets: 1.74---2.00---2.26---2.43
Tight Stop-Loss at 1.25