MORPHOSYS had a very strong sell and decline within the last months. Many reasons, two are more important: The cancer drug "Monjuvi" is in delay and apparently there have been troubles in the scientifical research. Secondly, Constellation Pharmaceuticals bought MOR for billions of dollars, a takeover that did not effect the price-action in a positive way. These are the background news, more or less!
Technical Analysis is simple. Super-overbought on Daily and weekly chart on the RSI with a bullish divergence on both, daily and weekly. We probably found a bottom here. On the smaller timeframe, 4h, we have a bullsih div with an eventual Adam&Eve reversal.
Red is my target with 70% sell, rest is stoploss above entry and see where MOR might goes!
No financial advice, just my point of view
Technical Analysis is simple. Super-overbought on Daily and weekly chart on the RSI with a bullish divergence on both, daily and weekly. We probably found a bottom here. On the smaller timeframe, 4h, we have a bullsih div with an eventual Adam&Eve reversal.
Red is my target with 70% sell, rest is stoploss above entry and see where MOR might goes!
No financial advice, just my point of view