MiMedx Group (MDXG) bottoms at the crucial level

Being below its below its 5, 20 & 50 day exponential moving averages and located in the middle of the declining channel the share price of MDXG is considered strongly bearish, though we would expect slight buying pressure. It might be attributed to a valid support level which the stock used to touch several times in 2015 and 2016 but failed to violate.
Fundamentally analysts estimate an earnings increase this quarter of 40% which should trigger an upward shoot.
We would project the price go up to the upper boundary of the channel as our first target.

For more ideas visit mercuriusam.wordpress.com