Chart for Mesoblast (MSB) looking good | Michael Gable | Finance News Network

Chart for Mesoblast (MSB) looking good

by Michael Gable

MSB has almost halved in value over the last several months. Analysts who closely cover the stock are still positive on the outlook with 12-month targets around $16. They feel that there will be enough news flow over the next 12 months to allow the share price to appreciate. When I look at the chart, it appears as though there is a high chance of the stock bouncing from current levels. It looks like the share price has exhausted on the downside, and with the RSI moving out of oversold conditions, the stock should rally from current levels. So MSB is therefore a buy down here, but I would still play it safe and ensure that a stop is placed under last week’s low of $5.44.


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