Chart observations

[BD]

Well, for someone who dabbles in TA on occasion, I never even looked at the long-term chart today until a minute ago, and I'm floored by what I saw. Here it is (click to enlarge):

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So, where to begin, lol? First we seem to have a new pattern to enjoy, "Cup with Bilaterally Symmetric Handle". That's a cup-with-handle alright, but with another handle on the other end for good measure. Twice as nice

Next, let's look at resistance levels. See that $10 level at the start of 2011 that the PPS spiked to, which we sliced through like butter today? Now THAT'S impressive.

Moving back in time, the next resistance level is around $11 back at the start of 2010. If we get past that, then 4 months earlier there's another spike to a bit over $12. Both of these are potential resistance, just worth being aware of. And past that $12 mark, it's just a bit tangled mess, with no clear distinct resistance levels.

No wonder shorts are in a panic. Well, that and the number of shares the idiots chose to go short

[liane]

Not to mention all the MA's perfectly aligned, higher highs/higher lows, and wicked good volume:


tos.mx/DGQc8e

[BD]

Wow, I never even zoomed in enough to see that beautous MA alignment. Here's a shot from my charting app:

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[trenddiver]

The recent breakout through the long term declining trendline shows an minimum target price of 14.

Trend

[BD]

OK, approaching that potential resistance at 11.

And I neglected to mention, the cup-with-handle breakout suggests a price target of 14 as well, so 14 is going to be a battleground area almost for certain.

[BD]

FWIW, nice short-term (2-day) reverse H&S pattern, PT 10.7 if it completes.

[thekindaguyiyam]

Jeeze you guys! No astrology? How bout a full moon: www.cbsnews.com/news/superstitions-collide-full-moon-rises-on-friday-the-13th/ Have a fantastic weekend... this is a hell of a start!

[BD]

I've actually been involved with an astrology app for investing, believe it or not: I didn't buy the efficacy, but I was glad to implement an app on spec, under contract, to a small company using dates of incorporation of companies as their "birthday" and charting their horoscopes for investing purposes. As far as I know, the company did not make it into the big time, surprise surprise...

In any case, take a look at what MNKD did after I pointed out the reverse H&S (and AH, now almost at 10.6, which is pretty darn close to 10.7!)

[biotec]

BD I hope all that works for you, But I think its total BS, Charts, astrology, etc.If you think astrology will help with your investments you may have to see a head doctor. Oh I forgot your a tda apex high roller.

[BD]

No, biotec, I do not think astrology helps my investing (though at the time, it helped my consulting business to get paid for implementing somebody else's astrology-based investing software...)

But technical analysis is not astrology, it's applied psychology and financial engineering. Before first learning TA, my investing was a total disaster. After that, I made a lot of money. Was it just the TA? No... TA doesn't work in a vacuum, unless you're a pure technical day trader, and that requires being glued to your charts between 9:30 and 4, and I'm not willing to do that; so, I use a hybrid approach, where TA plays sort of an "advisory role" while other factors influence my decision making to a much greater extent.

[biotec]

BD, I can understand the charts, But had to jump in on the astrology thing, But Ive heard of people using Alot of crazy ways to pick the winning stocks. I hope we all picked a winner in MNKD.