MGNX as a biotech company makes antibodies against certain cancers. The antibody is tagged to
chemotherapy molecules and then heads off looking for cancer cells to which it has a strong
affinity. So much for the science. MGNX just got upgraded and the new target is $ 16.00 about
25% upside. Biotech and healthcare are projected hot sectors this year.
On the 15 minute chart price jumped about 12% in the past week and bounced down toward
the anchored mean VWAP and is well situated for a long entry. the dual TF RSI indicator
shows both lines crossing the 50 level in early bullish momentum off the bounce.
It is continually hitting new past year highs at a great trend angle and is on pace to hit 400% for
an annual return. There is no option play here as the volume is minimal and liquidity is absent.
The all-time high is about $32 so there is plenty of room above the analyst's target over the long
term. Price has moved 12X the S & P YTD certainly a sign of relative strength.