Morphosys stock | ISIN:DE0006632003 | WKN:663200
After the stock had broken out of a pennant formation in mid-July, it had already gained more than 15%. In the context of the increase, the bulls now reached the range around 110 euros. Here is a resistance in the form of a high point from November 2018. Therefore, there is the possibility that a small, several-day recovery phase will be inserted. The primary target remains the high price of 125 euros. In the later course of events, it should then also be possible to reach the zone around 150 euros. There is tailwind from the following trend analysis, which sets the status for the security to “very bullish”.
Now take a look at the chart of the Morphosys share.
Day chart trend analysis:
Following a trend analysis for Morphosys stock. The statement of various trend indicators is used for this purpose. The analysis serves to get a feeling of whether it makes sense to be invested in the stock.
○ The moving average (SMA): This analyzes whether the GD increases. Because rising GDs mark an upward trend. Of a total of 10 moving averages, 10 are even rising. That can be described as very bullish. Also, the price is over 10 GDs, so we have a very good upward trend.
○ Macd Indicator: This analyzes whether the signal line is above the trigger line. Also whether the Macd is above zero. Of a total of 10 Macd analyses, even 10 are positive. That can be described as very bullish.
○ Highest High Indicator: This is used to analyze whether new peaks occur. Because higher highs mark an upward trend. Of a total of 10 HighestHighs, even 10 are rising. That can be described as very bullish.
○ LowestLow Indicator: This is used to analyze whether new lows are emerging. Higher lows mark an upward trend. Of a total of 10 LowestLows, 7 are rising. That’s bullish.
We now come to the overall evaluation for the Morphosys share. Of a total of 40 evaluation criteria, 37 can be described as positive. That’s 92.5%. Therefore the status here can be set to “very bullish”. From this point of view, it may make sense to look for an entry into the Morphosys share or to remain invested.