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.
Anyone know when the FDA will have there hearing to Approve MNKD?
Positive outcome will only be attained from buying pressure. _Not going to happen, unless positive news.
Now, on a daily basis we saw a self repeating analogy on MNKD
Then, todays rally on 2x avg vol suggested a closer look.
The amazing thing is that even on the weekly timeframe, we can see something:
the 2009-2011 price action might explain the entire chart from the same IPO, as we are now about to enter in the last stage of the analogy.
Definitely to be seen as...
Pretty curious to see if this self similar fractal keeps on tracking itself. It would mean: rally till the PDUFA and then a self-repetition on a lower scale.
Worth to note the huge short interest.
Long term perspective. One thing somewhat interesting.........First parabolic move in stock action (using weekly) analysis
that I can see. Significant? We shall see. Other technical provide validation (to me) for a basis to hold this stock.
Fundamentals are clear to understand. The pipeline if approved would establish a steady source of income (imo)
Good...
