For three days in a row, Morphosys stock tried to break out of its adjacent 20-day and 50-day moving averages — to no avail. The day’s highs were between 20.2 and 20.33 euros, so attempts to break biotech stocks failed. Shares of Morphosys (WKN: 663200, ISIN: DE0006632003, Chart) closed yesterday’s XETRA trading at €19,655. TecDAX is currently trading at 19,895 euros on Tradegate on Friday morning. Technically, however, this does not affect Morphosys’ participation. A breakout of the EMA 20 and yesterday’s intraday high are needed to give biotech stocks new potential. A small obstacle in case of a break can be the difference from October 20.79/20.99 euros. If the Munich share price rises above this, the next price targets from a purely technical point of view would be possible resistance levels of 23.22/23. 7 euros and 2 .63/2 .77 euros.

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