No....If you are an investor long term it matters very little. Short term if you were a trader you could sell. I use 70 and 30 for a baseline RSI..when I trade stock. When I invest I let others sweat the small stuff.
Technically it is overbought. Not a big deal as today's action is really great. You would think profit takers would have taken it down to $4.00-4.25. The risk here is being out of the stock if for arguments sake they do a huge deal on another molecule. Lot of volume but someone is buying. MACK seems to have gotten its act together.
Great weekend everyone.
Some time I hope Boogins will get into the science behind MM 398 and 302. The market and the Wall Street community are not paying attention. I saw this in the Phase II trial where the uptake from the nanoparticle was amazing at the tumor site. I can bet the 302 data will be just as fulfilling. They bought the science and the people for a deal and they still have the bodies. I have been a nano investor for a long time but MACK's technology is enormously underappreciated. It would not surprise me to see 302 partnered in Q1.
I do not think the shorts are naked for the most part. When the stock went into the $2s shorts would have covered. They had a convert which the buyers could have arbitraged but the bulk of the shorts are to me boxed and really should not count. The recent news trapped them and I think you will see the short interest fall a lot by the end of December.
First it should have never hit $2.06 a share. I have no idea who sold but it had to be tax loss selling and a bit of unhappiness with the CEO. But the data they presented recently is really numbing and a lot of smart money had to get invested. If you took all the trades below $3.00 out of the equation you are not overbought. The game is now sound science and massive potential. What escapes the market is the nano-technology that MACK possesses. I remember when Celsion had a nano-particle
from Duke and it failed. But MACK's technology seems to work at the site of the tumor. If 398 shows this after the Phase III it will get a whole new group of buyers, they being the folk who follow nanotechnology. Like Boogins says, MACK is not getting any credit for its platforms. I expect that to change very soon.
Oh, technical trading does not take into consideration fundamentals. Fundamentals eventually win.
is $4.76..If MACK gaps above that and stay there at the close you could get a real lot of interest from specs and day traders. The RSI is a very high 82. You will correct sometime in December, but if it does from a higher level that is fine with me.
Best guess down to $2.40 which means a $15 stock price. Then you can back the truck up. Spreads are widening but AGNC's leverage and portfolio really hurt this year.
You should read the FDA warning letter to 23 and Me. It makes the Atossa warning letter sound like an approval. The FDA is coming down hard on a lot of these type of companies. The FDA is going to make 23 and Me do a clinical trial because of their claims which are actually outrageous. Regarding ATOS it is not the device but the claims associated with the Forecyte test. They may be the Breast Health Company, but they are not the " breast cancer detection company " which the FDA may make them prove. And it will not be a label issue warning users not to rely on the test alone. The burden may be on Atossa to prove their claims and the only way is a clinical trial. Maybe good for all to read the 11/12/13 FDA letter. They actually mention death!
Also notice Quay teed up the Nextcyte genetic test at a meeting in San Antonio. Nextcyte should have been the first ATOS invention to be marketed. But if Forecyte has to do a trial they may press on with Nextcyte.
23 and Me CEO is a Google wife with a massive ego ( like Quay ) but very deep pockets unlike
Atossa. Will be interesting to watch, but saying they won't need a trial is a bit risky.
If 398 works it is 3 Billion...the rest will follow but I doubt we would be around once the Phase III starts in MM-121. I hope we do not sell. I would like to see Network Biology mature.
I am not a trader. I am an investor. Have know MACK for 10 years. I was in Amgen at $1.87. If 398 fails yes it will adjust down big, but if it succeeds it will be a 3 Billion company and we will know that by May.
Obviously you move down and the 14 day average will change..If it treads water for a week or two it will also fall..I would like it at 60 right now, but there are a lot of moving parts and all good.
Long term is fine..Short term is over bought. The 50 week MA is $5.00..the 200 day is 4.77..we will test them soon and see what happens. I would like to stay here for a few weeks and get the RSI down under 70..But the CEO just signed up for the Oppenheimer Conference so we may tread water until he speaks..
This is still the most ludicrously undervalued stock in the market..
Once I see positive cash flow I will sleep better. They have a GE on staff now and I can't believe they can't make a deal. GE needs the process to drop their turbines anywhere in the world that does not have a steady fuel supply. They opportunities for natural resource recovery is huge. Wonder if Rigdon is the guy to run the place.
Sentiment: Strong Buy
One, delisting does not matter...Second, if the are working with GE they can't say anything about anything.
Agree it is a great potential, but it is in coal and that hurts no matter where you are.
Sorry guy...I should have read between the lines better. You are on point. They are running out of ideas but this one takes the cake. And those dopes at 60 Minutes fell for it. Just like Lara Logan and that Bengazi witness.
What amazes me is why are people in such a hurry to get merchandise. I do not get it. Only ones making money with AMZN is FED EX