Investors may want to consider Fate Therapeutics (FATE).
All as the stock just begins to pivot higher from double bottom support, and from over-extensions on RSI, MACD, and Williams’ %R. After moving $2.05 higher on Wednesday, the stock is up another $2.55 in pre-market, as investors pile back in. From a current price of $75.30, we’d like to see a near-term bearish gap refill around $85.
Better, analysts at Morgan Stanley recently initiated an equal weight rating on the stock, with a target price of $77. Cathie Wood’s ARK Investment also bought 529,000 shares on the pullback. In addition, Piper Jaffray says the sell-off is a buying opportunity, and has a $113 target.