ClayTrader
Short

$MNKD Current Technical Pattern Along with Support & Resistance

NASDAQ:MNKD   MANNKIND CORP
Although at the time of making these annotations MNKD             is gapping-up in the premarket, the fact of the matter is this chart has been in a nasty downtrend and has formed a Bear Pennant Pattern. If it does gain any upside strength, the true test will come if the price can make it up to the pivotal $8 level. Until any multi-day closes above $8, I will remain bearish .
I think the pattern can also be labeled "seller exhaustion". I'll take a stab at the long-side at $6.50-$6.00 on any shakeout from here.
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