Price of Marinus reacted at an important level. This is a good sign.
My opinion is that Wave 5 UP has just started and will push the stock to much higher levels.
More conservative investors could buy above $7 in order to have a full confirmation of the new up move.
Note: I am Long Marinus and I will increase my position.
It is a promising company in its sector.
MARINUS is a leader in the development of neurosteroids for the treatment of depression. It is developing ganaxolone for PPD (Postpartum Depression).
Topline data from a Phase 2 study should be available in H2.
The stock price dropped after its Q earnings results. Its cash of $21.47M is solid to fund its operations and this is good for me.
Technically the recent...
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.