Price holding up nicely in a weak session on the ASX as sellers disappear

Potential Buy Entry Alert to Watch MSB

Time Frame : Daily/Weekly

Sector : Pharmaceuticals/Healthcare

Key Stats : $747.99 Million Market Cap, VWAP 1.50, ASX Ranking 295, 4 Week Av Turnover $960,063, Current Turnover (Intraday as at time of alert) $190,989.

Company Overview : Mesoblast Limited (MSB) is an Australian company engaging in the development of biologic products for regenerative medicine. The key focus is on research and development of adult Mesenchymal Precursor Cells (MPCs), Mesenchymal Stem Cells (MSCs), Dental Pulp cells and Adipose cells. Its intellectual property covers applications in key markets including the United States, Europe, Japan and China.

Broker Consensus : BUY

MSB – Mesoblast Limited

Something looks afoot with MSB as price holds up nicely in a weak session with fears flowing on a prolonged trade war. Buyers are holding up under pressure and volume is light today suggesting sellers may be done in the short term. Price fell away with the rest of the market in the selloff into the end of last year and found major longer term support around 1.00. We are now watching for a push up out of contraction through 1.55 and then a higher low to build on volume for the entry setup and potential move up to the 2.00/2.20 zone.

Stock Code : MSB – Mesoblast Limited

Company Website : www.mesoblast.com

Current Price : 1.505

Status : On watch for potential higher low and push up through 1.60