Momenta Pharmaceuticals, Inc. (MNTA)

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funinthsun,


Very possible.


Here is my take,

Current short position reported tonight for June 29th on NASDAQ site.


"6/29 Shares short 4,505,279"

"Breakout trade
WATCH for possible breakout above 24.83
Target: 26.54”


Total shares traded July as of tonight. 2,062,395. That is an average of 294,627 a day over 7 days. Not all these shares traded are short covering, Assume they are all short covering for a second and that leaves 2,442,894 left to be covered. That would take 8.29 days to cover assuming it was all shorts covered prior. I doubt that is the case.

Next we closed above the 50 day moving average of 22.46 which means this will be all over the radar screens tonight.

Also, we broke through the MACD to the up side. Another strong positive.

In short, I think there is a distinct possibility of a short squeeze tomorrow or very soon.

The big institutions will be seeing the same thing tonight on their radar and might force a squeeze. Good news as well could force a squeeze.

It would be nice if CW gives us the date the clinical trial on M254 starts tomorrow.

Strong looking charts

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