the 200 day ema has cut thru the Bollinger bands, and for some reason, price seems to spike after this action. Price is closing in on the 200 day ema which should push this stock into bullish mode. Wedge patter is close to completion.
Looking for a resistance level that causes a reversal of trend. You can see the 2.01 resistance level was hit on 9/6, and 9/7 the price fell through to 1.78. If the downward trend continues, the next resistance level to be hit would be 1.5. Substantial sell volume on 9/5, 9/6 and 9/7 could be indicative of a higher likelihood for a trend reversal early next...
MNKD had a volume surge on Friday after some positive results were shown.
ADX is still flat which is currently over 10 +DMI is over 17 and -DMI is over 16. It closed over the 50 day moving average which is currently at 1.8.
Entry would be 1.75/1.81/1.87/1.91
Pivot is 1.97
Resistance is 2.03/2.07/2.013/2.23
For me I would look to enter this from 1.81 to 1.87...
Technically speacking it is getting squeezed in a wedge. The move could be up since last earning were not half bad, they were actually pretty good, I am surprized that the move hasn't happened yet.
MNKD looks like a nice wedge set up. Looking at buy points at the red and blue lines, allowing me to average down. A break out from this trend should carry this stock upwards. Worth keeping on a watch list.
This is why you buy/sell only at the beginning/end of the session.
Especially in a downtrend/uptrend a buy/sell opportunity is valid only at the end....
I'm starting by studying charts while building an investing account. Started investing with $100.00 but getting killed on commissions, so going to wait until I have $1000.00.
Found this yesterday, and confirmed the pop up today.
* Trade Criteria *
Date First Found- January 10, 2018
Pattern/Why- Fallen angel formation; Breakout out trade
Entry Target Criteria- Current price (Possible aggressive entry) or Breakout of $2.77
Exit Target Criteria- Momentum
Stop Loss Criteria- N/A
Special Note- Lots of insider buying
Please check back for Trade updates. (Note: Trade update is little...
MNKD is in a falling wedge on the hourly time frame. The stochastic has coiled and there is divergence, right at the breakout point of the wedge.
Buy: 3.03
Target: 3.10 - 3.20 (2.31% - 5.61%)
jbzstocks.com
@jbzstocks
Hey Guys I am back and I have been on a day trading mission developing a new strategy. Anyway what your looking at here is a short trade. I know MNKD has to raise money and it is going to to happen if not in the next two days then sometime soon. My guess is before the end of the week.
Be careful of any pumps of this stock, dont get squeezed out, and hit it heavy....
This is one of the traditional charts examples you can find in Books like: Technical Analysis of the Financial Markets by John Murphy.
And this example is in real time and is happening now.
The Chart is very clear for my point of view and even I do not draw a trend line but is obvious and even is history that the down trend was broken by strong up price...
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NASDAQ:MNKD
