Watchlist 9/13/17

SAGE - (SHORT recommendation)

Technicals: Hit a low of $67 but bounced back to $76 at the close.  Up to $78.30 AH.  The daily chart shows they is still substantial room for a continued drop.  Note that the MACD line has crossed below the signal reflecting a bearish view.  Watch for premarket action before making your decision.

News:  Announced that top-line results from its Phase 3 STATUS Trial of brexanolone (SAGE-547) for the treatment of super-refractory status epilepticus (SRSE) did not meet the primary endpoint.  However, secondary endpoint results were consistent with the primary endpoint.  IMO, the stock will still go down.



Technicals:  Price crossed above resistance of $142 closing with a bullish hammer candlestick.  Next resistance is at approximately $152.

News:  Company announced a restructuring plan which will include a 20% reduction in its workforce, saving up to $270m in GAAP and approximately $250m in non-GAAP pre-tax savings annually by 2019.


MBVX:   (SHORT recommendation)

Technical:  Float of 10.63M.  Stock has been on a downtrend for close to 12 months now.  The technical indicators are split between an uptrend or downtrend.  But the RSI is definately turned down.  Due to the NR (below), this will likely go down tomorrow.  A calculation for an additional 4M shares for Net Proceeds of $2M leaves a share price of $0.565. I anticipate it will hit close to $0.50.

News: Company announced that it has agreed to sell approximately 4.0 million shares of its common stock for gross proceeds of approximately $2.0 million. Each share of common stock is being sold at a price of $0.50 per share. 


FENG:  (SHORT recommendation)

Technical:  Float of 31.27M.  Most indicators are in bullish territory specifically the MACD as it has not been able to reverse the downtrend.  Note that since August 23rd, the stock price has not succeeded in surpassing the drawn resistance line.  Looking for an initial PT of $4.11.

News: The surge on August 16th was because the company beat analyst estimates across the board, and its third-quarter revenue guidance was also higher than expected. The stock surged up 84% in the next 6 days but has not been able to maintain that momentum.  Therefor I'm looking for a continuing downtrend.



Technical - Float of 102.17M.  Showing a nice continuing uptrend since its big gap-up on May 1st.  Low of today held the MA(50) line and surged past the Pivot price.  Looking for a PT of approximately $17.00 is 2-5 days.

News: The company continues to ride on the wave of its ER on July 27th where the reported adjusted loss of 4 cents in the 2nd quarter was narrower than the Zacks Consensus Estimate of a loss of 5 cents.  In addition, net revenue of $56 million outshined the Zacks Consensus Estimate of $53 million by 5.7% and increased 6.3% year over year. This also surpassed the $52–$54 million range projected by Chegg.

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