(MBOT) Microbot Medical goes up 68%, what next?

Microbot Medical shares MBOT skyrocketed 67.3% with heavy volume toward a nine-month high on Monday. News was released that the pre-clinical medical device company announced an agreement with Stryker Corp SYK to develop the first dedicated robotic procedural kits for use in certain neurovascular procedures. 

Company Name: (MBOT) Microbot Medical

Ticker: (MBOT)

Exchange: NASDAQ

Website: http://www.microbotmedical.com

Company Summary:

Microbot Medical Inc. (NASDAQ: MBOT) is a pre-clinical medical device company that specializes in transformational micro-robotic technologies, focused primarily on both natural and artificial lumens within the human body. Microbot’s current proprietary technological platforms provide the foundation for the development of a Multi Generation Pipeline Portfolio (MGPP).

Why did MBOT Microbot Medical go up?

Microbot Medical Inc. (Nasdaq: MBOT) announced that it has entered into a strategic collaboration agreement with Stryker, a leading global medical technology company.

The company will collaborate with Stryker’s Neurovascular division to integrate its neurovascular instruments with Microbot’s LIBERTY Robotic System to develop the world’s first dedicated robotic procedural kits for use in certain neurovascular procedures

MBOT 1 Day Chart

MBOT Technical Analysis

(MBOT) pulled back from the open to a low of $7.38 from a high an open of $8.93 constituting a 21% retrace. So is the stock ready to bounce? It ran from the low of $7.38 to a high of $8.50 and the consolidated in that range.

Can it bounce? It will bounce like a basketball if it eclipses $8.50. If it doesn’t it will fail. I like it if it can cruise by $$8.50 in the morning!

Microbot is poised to be a big winner if it can break out of this consolidation pattern. Make sure to always trade with stop losses. Happy trading