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Post by irrationalexubera on Mar 19, 2016 20:08:45 GMT -5
For several reasons, I'm looking for a pullback soon. The action on Friday although exciting resulted in a spinning top candlestick which often indicates a reversal. Also the shorter term indicators (RSI, and Stochastics) are in overbought territory. These indicators can sometimes remain in overbought territory for awhile. Additionally there is a gap that must be closed at the $1.54 level. Finally, the recent SP increase has been closely tracking the 20 day moving average which is currently at $1.25. So at $2.00, we are very extended. So for all of those reasons, I'm expecting a pullback to close the gap and test support at the $1.50 level. My primary indicators are still in a longer term bullish configuration. GLTA Trend hey trend - your thoughts are always appreciated, and anyone that's listened to your analysis in the last three weeks has doubled their money, regardless of whether that's profit or loss recovery. i'm inclined to agree with you as the week-long exuberance is possibly played out short-term, but if the reason underlying the very satisfying volume of the last week has been a serious initiation of long positions, it could certainly blip higher in the short term before settling out mid-1s. |
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Post by mnholdem on Mar 23, 2016 7:18:52 GMT -5
In the absence of any news...
The resistance band (2.10 ± 0.12) where MNKD share price is currently entangled is a strong one. Then, if traders break through the $2.22 upper limit of the first resistance band, we'll be encountering yet another strong resistance band. If buyer sentiment can push share price through the $2.50 upper limit of the second resistance band, then the share price may quickly move into the $3 range. ...
Resistance & Support Areas Over the past 8 months.
Type: Number of times a stock has touched a resistance/support area, the more times the stronger the area.
Strength: Amount of volume occurring at resistance/support areas, the higher the more significant the area.
CURRENT PRICE 2.14, at resistance, 2.1 ± 0.12 type double, strength 10
RESISTANCE ABOVE +10.3% at 2.36 ± 0.13 type double, strength 10
+43.5% at 3.07 ± 0.17 type single, strength 3
+57.9% at 3.38 ± 0.19 type single, strength 1
...
SUPPORT BELOW -27.1% at 1.56 ± 0.09 type double, strength 6
-46.3% at 1.15 ± 0.06 type single, strength 3
-51.9% at 1.03 ± 0.06 type double, strength 6
...
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Post by cretin11 on Mar 23, 2016 7:26:27 GMT -5
Thanks mn! Is 10 the highest number in that resistance strength scale?
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Post by mnholdem on Mar 23, 2016 7:55:21 GMT -5
Yessir! To my knowledge, 10 is the highest rating on their strength scale.
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Premarket activity today appears to show fairly high volume (60k) and is pushing the stock price up +2% - which is almost but not quite to the high (breakout) side of the current resistance.
I hope MNKD manages to break through today.  |
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Post by sportsrancho on Mar 23, 2016 8:34:30 GMT -5
I'm been told by people on here that they don't believe in charts. But they can give you peace of mind. Bottom line is a pull back would be healthy. But I'm hoping for a brake out! Agree with both trend and mnholdem. I'm buying either way:-) But will wait to see what unfolds.
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Post by mnholdem on Mar 23, 2016 9:14:51 GMT -5
I don't really use TA to predict anything. I use it (sparingly) help me determine when would be a good time to buy more. For example, trend's call of a strong likelihood of pullback is correct. Should that happen, I would be looking for the falling share price to stop around $1.56 and that's where I may buy more. The chart may influence me to wait a bit to see what happens. If it appears that a pullback is imminent, I'd probably wait.
I'm not over-reliant on the TA charts, though. There are simply too many other factors. I've already demonstrated (on another thread) the similarity of MNKD movement to the broader market. Then there are fundamentals to consider and last (but certainly NOT least) news & events.
I truly am more of a long-term investor than a shorter-term trader, but using the charts to determine optimal buy points has worked pretty consistently for me. Perhaps if I paid attention to the sell points my account would be fatter but, like I said, I'm more of a long-term investor.
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Post by trenddiver on Mar 29, 2016 0:41:57 GMT -5
The technicals are playing out as forecasted. After a strong run from .67 the $2.25 area (on no news), the stockprice became way overbought. A pullback was imminent and necessary. As mentioned in my previous post, I'm was looking for a pullback to the $1.50 area to test support and close the gap. The 20 day moving average coincidentally comes in at $1.49 which should provide additional support.
Trend
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Post by cjc04 on Mar 29, 2016 12:14:04 GMT -5
Yesterday made the daily & weekly charts look pretty ugly.
With guaranteed catalytic news coming in the next weeks/months, it will be interesting to see how it plays into the technicals.
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Post by trenddiver on Apr 1, 2016 23:47:41 GMT -5
Technical update
Gap was closed this week, which was necessary to allow for any future rally. All of the indicators which were overbought have now returned to a more neutral position. The 20 day moving average, which has supported the recent run up is at $1.62. I'm expecting another test of the $1.50 support level. The daily and weekly MACD indicators which I closely follow have entered a divergent state. The daily is in a bearish configuration, and the weekly is in a bullish configuration. As long as the weekly MACD remains bullish, I'll be constructive on the SP. For those who missed the rally up to the $2.25 level or for MNKD traders, a price drop to $1.50 is a good reentry point with a stop at $1.40.
Trend
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Post by ashiwi on Apr 6, 2016 13:28:36 GMT -5
Trend,
Whats your thought on today's action? Did you get stopped out when the pps dipped to $1.32?
Is the sell off on essentially what was another non event news yesterday.
There certainly has not been a shortage of hit pieces lately.
Interest to borrow shares has gone up again. The shorts are still at it.
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Deleted Member
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Post by Deleted on Apr 6, 2016 13:43:24 GMT -5
You guys are funny with the technical analysis of this stock. Shorts covered due to Matt strong convictions that we were good on cash during the last conference call on top of a 100% borrow rate. People assumed there is a settlement and since no news broke people have started selling it and shorting it again.
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Post by stevil on Apr 6, 2016 13:52:01 GMT -5
You guys are funny with the technical analysis of this stock. Shorts covered due to Matt strong convictions that we were good on cash during the last conference call on top of a 100% borrow rate. People assumed there is a settlement and since no news broke people have started selling it and shorting it again. TA is fairly worthless with no news. What we saw was purely buy the rumor, sell the news. Unless Matt outlines how he plans on saving MNKD, it'll only be the ones with blind faith in him that hold their shares. The market as a whole doesn't have such faith. |
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Post by peppy on Apr 6, 2016 14:05:51 GMT -5
You guys are funny with the technical analysis of this stock. Shorts covered due to Matt strong convictions that we were good on cash during the last conference call on top of a 100% borrow rate. People assumed there is a settlement and since no news broke people have started selling it and shorting it again. . What we saw was purely buy the rumor, sell the news. Unless Matt outlines how he plans on saving MNKD, it'll only be the ones with blind faith in him that hold their shares. The market as a whole doesn't have such faith. The doctor was looking at the X-ray
And I asked him, "What do you see?"
And he kept on looking at the X-ray
As he said in French to me:
"I see bones
I see gizzards and bones
And a few kidney stones
Among the lovely bones
I see hips www.youtube.com/watch?v=w17fxV2igJY
I am done for the day.
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Post by stevil on Apr 6, 2016 14:13:59 GMT -5
You speak metaphorically a lot and I'm not sure I understand what you're saying half of the time. I don't think you were looking for a response, but I wasn't able to understand your retort...
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Post by peppy on Apr 6, 2016 15:04:57 GMT -5
You speak metaphorically a lot and I'm not sure I understand what you're saying half of the time. I don't think you were looking for a response, but I wasn't able to understand your retort... people who read charts, learn to read them over time, with study.
the doctor was looking at the x-ray and I asked him, what do you see, and he kept on looking at the x-ray while he said in French to me; a metaphor, yes
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