CVGIII
Long

MNKD: Two possible harmonics with one possible target?

NASDAQ:MNKD   MANNKIND CORP
It is both a pleasant and an awe-inspiring surprise when we traders catch a glimpse of the many hidden complexities in the financial markets. How various patterns, indicators, and so on can converge together to paint a picture so clear in what much of the time appears to be total chaos. On this chart of MNKD             , the picture is far from clear. But there are two harmonic patterns: one is a Bearish Shark (Purple), the other is a Bearish Deep Crab (Yellow). Each by themselves is hardly proof of anything. Together they bring a small amount of clarity as they both point to the same PRZ.

Trading Parameters: Those of you who are aggressive could go long at your leisure. Just set your stop at point C of the deep crab (3.95). Those of you who desire more convincing(smart) should wait for point B to be taken out on either pattern as this would confirm the patterns validity. The better bet would be the shark . Don't forget that PRZs can foster violent reversals. I would imagine with two separate patterns having the same PRZ it would benefit traders to get out of MNKD             before that zone is reached.

Just an observation that I thought should be shared. Good Luck.
The only correction to this chart is the point C on the deep crab pattern(yellow) moved lower by a few pennies and and hit exactly 88.6% rather than 87.3% as shown above. This is interesting considering that right after the low at exactly 88.6% was made. Earnings came out and the stock moved much higher. Could this be the reversal that targets the PRZs of both patterns. Time will tell. Good luck.
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