Momenta Pharmaceuticals Inc (MNTA) “On a long-term technical basis, the stock (MNTA) is trading above its 200-day moving average which generally implies it is in a positive trend. However, the stock has recently broken down through an important fibonacci fan trendline at 32.34 suggesting the next support level is at 29.25. This weakness suggests the long-term uptrend is turning neutral.

The stock has support at 29.25 and 27.70. If the stock breaks down through support at 29.25 then it will probably continue lower to 27.70. The stock will meet resistance at 31.41 and 33.03. If the stock breaks up through resistance at 31.41 then it will probably continue higher to 33.03. The 200-day moving average is at 27.57. This will also act as support. The stock is neutral according to the Stochastic Indicator (36.91).”