MEIP-- Great to see the WellsFargo recommend on MEIP. I've been thinking that any day now we should get an "initiating coverage" note and buy recommend from BofA/MLynch, which led the share-offering in Dec. But just the WellsFargo "buy" should put MEIP more on the radar of a lot more biotech investors.
Technically, several days ago when the shareprice briefly topped the 20day moving avg it triggered a shift in the Parabolic SAR indicator from "sell" to "BUY."
And with the decline of the 20dma since the share-offering, that 20dma (the mid-Bollinger band) is presently at 3.88. Previously it had been serving as resistance throughout January, but now it should serve as a support as MEIP climbs back to expected higher valuations post-offering and with the WellsFargo recommend and PT of $10-11 (not to mention the other analysts at CantorFitz and Brean Cap with their even higher PTs of $14-16).
Next line of resistance will be the falling 50dma which will probably level out, i suspect, somewhere in the 4.10s and could easily be surpassed on continued upward stockprice movement...
Meanwhile, there's LOTS of room for the RSI, MACD and Accumulation indicators (etc) to run much higher....
News 
Market Data 
Discover 
