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.


Disclaimer: Michael Gable is an Authorised Representative (No. 376892) and Fairmont Equities is a Corporate Authorised Representative (No. 444397) of Novus Capital Limited (AFS Licence No. 238168). The information contained in this report is general information only and is copy write to Fairmont Equities. Fairmont Equities reserves all intellectual property rights. This report should not be interpreted as one that provides personal financial or investment advice. Any examples presented are for illustration purposes only. Past performance is not a reliable indicator of future performance. No person, persons or organisation should invest monies or take action on the reliance of the material contained in this report, but instead should satisfy themselves independently (whether by expert advice or others) of the appropriateness of any such action. Fairmont Equities, it directors and/or officers accept no responsibility for the accuracy, completeness or timeliness of the information contained in the report.

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