Trade Idea - MEDX
Monday, January 28, 2008
Another stock that is in focus today is Medarex MEDX, stock has been upgraded by Jefferies & Co to Buy from Hold with a price target of $14. Looking at the daily chart above, stock is trading in a downtrend with the major resistance at $10. This stock like many others, have already reached oversold conditions, so with today news will very possible see a close above $10. So, keep an eye on this mark, because could mean a short reversal on stock trend.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.
Labels: MEDX
