AI
Tuesday, September 20, 2011 12:48:45 PM
MNTA: TA 9/20/2011, Broke below 4-year trendline
With the approval of Amphastar's generic Lovenox, MNTA broke down from a 4-year trendline and channel. As I said, it would break below that trendline if tEnoxaparin was approved, I should've stated "if ANY version of generic Lovenox is approved".
As I mentioned, a close by the end of this week above $14 would be extremely bullish because it would take it back above the trendline and into the channel. If not, then a long-term horizontal support level could be forming at the $12.30 level.
FWIW, TEVA is still heading toward 52-week and multi-year lows and based on the long-term charts it is in a serious downtrend. It's showing a lot of weakness in somewhat stable market conditions. It's funny because I occassionally check out TEVA's Yahoo message board and I thought it was strange that they didn't talk about MNTA much given the potential impact MNTA could have on TEVA. It's only picked up recently because of the Copaxone trial. Many of their posters would say "The fundamentals are excellent, I don't understand why it's not going up". But it kinda reminded me of how Amphastar was not talked about much on this board
.
With the approval of Amphastar's generic Lovenox, MNTA broke down from a 4-year trendline and channel. As I said, it would break below that trendline if tEnoxaparin was approved, I should've stated "if ANY version of generic Lovenox is approved".
As I mentioned, a close by the end of this week above $14 would be extremely bullish because it would take it back above the trendline and into the channel. If not, then a long-term horizontal support level could be forming at the $12.30 level.
FWIW, TEVA is still heading toward 52-week and multi-year lows and based on the long-term charts it is in a serious downtrend. It's showing a lot of weakness in somewhat stable market conditions. It's funny because I occassionally check out TEVA's Yahoo message board and I thought it was strange that they didn't talk about MNTA much given the potential impact MNTA could have on TEVA. It's only picked up recently because of the Copaxone trial. Many of their posters would say "The fundamentals are excellent, I don't understand why it's not going up". But it kinda reminded me of how Amphastar was not talked about much on this board
. 
(As usual, all forward looking statements are my opinion only.)
Have a great day everyone!
