Mela Sciences (MELA) is a medical device company focused on the commercialization of its product, MelaFind, and the further design and development of MelaFind and its technology. This stock is trading up 4% at $3.50 in recent trading.
Today's Range: $3.45-$3.6552-Week Range: $1.75-$6.96 Volume: 242,000 Three-Month Average Volume: 311,564 >>5 Health Care Stocks Setting Up to Break Out From a technical perspective, MELA is gapping up here after the stock gapped up Monday back above its 50-day moving average of $3.12. This gap today has also started to push the stock within range of breaking out above some near-term overhead resistance at $3.55. At last check, MELA has hit an intraday high of $3.65 and volume is just a bit below its three-month average action of 311,564 shares. Traders should now look for long-biased trades as long as MELA is trending above that $3.55 level, or above its daily high of $3.65 with strong upside volume flows. I would consider any upside volume day that registers near or above 311,564 shares as bullish. If we see MELA maintain that trend, then this stock should easily hit $3.98 to $4.69 in the near future. Keep in mind that it will only have a shot at $4.69 if it takes out its 200-day moving average of $4.26 with volume.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV