MNLO - FDA Approval - Trend Is Your Friend

All,

I think this is a buy and hold over weekend scenario. FDA approval is no joke (well at least in trading ;) lol). I think this is a gap up Monday and overall could double actually based on chart positioning.

TA Wise: we are forming an ascending triangle and topping out. However this is a bullish pattern. Very clear on 4H vs 15M we have yet to break full candle above just fake out candles.

Comment:

1st Target: $3.60

Comment:

1st Target Safe $3.30

Comment:

Keep in mind the bigger picture here as well. It may appear to have some uptrend, but in reality MNLO is down over 60% and this is just the start of an up move even if it breaks down back to $2... you can just hold.

Comment:

If it breaks down at the top $2.25 is a re buy in level or buy in 50% now 50% break down or above levels

Comment:

Level to watch $2.51 on trendline

Comment:

INSANE ... 1m ticker just instantly went down and tested my level around $2.25!! Now being bought back up. This is what wicks and bodies are all about and panic selling. Watch this wick close above $2.50 on 5m/15m

Comment:

9 mintues left on 15m ticker lets see

Comment:

Sorry to all who do not understand multi timeframe analysis, but essentially it is testing levels on lower times, but the overall picture is barely going to move (maybe) have to see. Most people would consider this a buy in low if it starts to hold up around $2.25.. this is where 1m ticker comes in handle and the wick plays by the rules and trend line of higher timeframes. You will notice 4H hasn't even been phased.

Comment:

Also this was just a gap fill .. good thing

Comment:

Insane to watch a level like $2.51 work so precisely
Example of current pattern : www.finvids.com/Char...oadening-Top-Bottom/

Comment:

The red trend is a short term tight trend the overall trend is in blue. That is where the next level of big support should hit