Replies to post #5494 on Momenta Pharmaceuticals, Inc. (MNTA)

[tekcor_atnm]

MNTA: TA 9/15/2011, First close above $17.50 resistance level since July 29th

After backing off from the $17.50 resistance level many times, MNTA moved above it and closed at its highest level since July 29th. It also closed above the 50DMA in the process. The uptrend looks sustainable but higher volume would be nice. Based on the technicals, I believe there is a high likelihood of a positive event occurring in the next few weeks to cause MNTA to stay above the $17.50 level for good (and as long as the broader market continues its constructive action).

BTW, TEVA is looking awful as I believe that their technicals are in their worst shape in twelve years. The PPS is hovering near 52-week and multi-year lows and is behaving like mCopaxone is a foregone conclusion .