LONG WHITE CANDLE
Trading: BUY @ $1.385
Signal Strength: WEAK
Indicator MUST BE USED in additional to another technical indicator to confirmation for trading position. Indicator can be applied to the short term timeframe but is only able to give and indication of the strength of the buyers versus sellers at the market close. This Japanese candlestick indicator can provide guidance on the short term battle between sellers and buyers from the companies recent trading.
Mesoblast (ASX:MSB) has formed a Long White candlestick. This means, MSB has traded with strong buying pressure throughout the day adding strength to previous short term trends. Given the limited timeframe in which signal has formed, further confirmation is required through volume and additional technical indicators.
This candlestick implies relatively strong buying pressure and shows that prices advanced during the day significantly from open to close and the buyers were aggressive.
Calculation: Long White Candlestick:
1) The body of the candlestick is white and long.
PROFILE: Mesoblast (MSB.AX)
Stock Exchange: ASX
Ticker Codes: | MSB.AX | ASX:MSB |
Mesoblast Limited develops cell-based medicines. The company has leveraged its proprietary technology platform based on mesenchymal lineage adult stem cells to establish a portfolio of late-stage product candidates. Its allogeneic cell product candidates target advanced stages of diseases with high and unmet medical needs, including cardiovascular conditions, immunologic and inflammatory conditions, orthopedic disorders, and oncology and hematology conditions. The company's products under the Phase III clinical trials include MPC-150-IM for chronic and end-stage heart failure; MPC-06-ID for chronic low back pain; and MSC-100-IV for acute graft versus host disease in children. It is also developing MPC-300-IV that is in Phase II clinical trials for the treatment of biologic refractory rheumatoid arthritis, and diabetic kidney diseases and type 2 diabetes. The company has a collaboration agreement with JCR Pharmaceuticals Co., Ltd. It has operations in the United States, Australia, Singapore, and Switzerland. Mesoblast Limited was founded in 2004 and is headquartered in Melbourne, Australia.
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