Midatech Pharma Plc (MTP) Can’t Be More Risky. The Stock Formed a Wedge Down Chart Pattern

July 27, 2018 - By Kristin Houston

Midatech Pharma Plc (NASDAQ:MTP) Logo

The stock of Midatech Pharma Plc (MTP) formed a down wedge with $0.59 target or 7.00 % below today’s $0.63 share price. The 5 months wedge indicates high risk for the $21.86 million company. If the $0.59 price target is reached, the company will be worth $1.53 million less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock decreased 3.08% or $0.02 during the last trading session, reaching $0.63. About 31,097 shares traded. Midatech Pharma Plc (NASDAQ:MTP) has declined 72.41% since July 27, 2017 and is downtrending. It has underperformed by 84.98% the S&P500.

More recent Midatech Pharma Plc (NASDAQ:MTP) news were published by: Benzinga.com which released: “34 Stocks Moving In Monday’s Mid-Day Session” on July 23, 2018. Also Nasdaq.com published the news titled: “Midatech Pharma US announces Co-Promotion Agreement with Bausch Health Companies Inc. for the Exclusive Right …” on July 23, 2018. Globenewswire.com‘s news article titled: “Midatech Pharma PLC: Trading Update” with publication date: July 25, 2018 was also an interesting one.

Midatech Pharma PLC, a specialty pharmaceutical company, focuses on the development and commercialization of oncology and other therapeutic products in the United Kingdom, Turkey, other European countries, and the United States. The company has market cap of $21.86 million. It offers Oravig, an orally dissolving buccal tablet for oral thrush and oropharyngeal candidiasis in adults; Gelclair, an oral rinse gel for the management and relief of pain arising from oral lesions of various etiologies; Zuplenz, an oral soluble film for moderately emetogenic chemotherapy-induced nausea and vomiting, radiotherapy-induced nausea and vomiting, and post-operative nausea and vomiting; and Soltamox, an oral liquid solution of tamoxifen citrate for the prevention of breast cancer. It currently has negative earnings. The firm also engages in the marketing of Ferralet 90, a prescription iron supplement for the treatment of anemias that are responsive to oral iron therapy; and Aquoral, an artificial saliva spray to provide relief from chemotherapy/radiation therapy.

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