Markets

MannKind Corporation (NASDAQ:MNKD) Key Indicators And Emerging Themes

MannKind Corporation (NASDAQ:MNKD) gained 7.41% in trading on July 18, 2017, going up from its prior closing price of $1.35 to $1.45, and has now recorded rally in 3 consecutive sessions. Many in the market will be closely watching whether this winning streak is sustainable or take a temporary pause for the next couple of trading sessions. The price has been moving in both directions for this period, and there has been a 9.02% gain over 10-day period. The upbeat movement of both volume and price during the recent session is interpreted as a good sign, and, overall 1.46 million more shares exchanged hands compared with prior day. In total, 3.03 M shares exchanged hands for about $4.40 million.

Inside MNKD’s Recent Trend

MannKind Corporation (MNKD) enjoys staying at the middle end of a sharp increasing trend in a short period of time and issued considerable signs about additional rally. Short-term traders are predicted to see a rally of 36.14% over the course of a quarter and, with 90% chance the price will be floating in the range of $1.57 and $2.72 in this timeframe.

MannKind Corporation Technical Signals



MNKD has witnessed its long term and short term MA triggering a buy signal but chances are low for long-term averages to cross above short-term averages which the market considers a major buy signal. Upon corrections, the price will meet support from the averages between $1.27 and $1.44. A break down through these support points will trigger sell signals. Its pivot point low generated buy signal on Tuesday July 11, 2017, which calls for additional surge until the stock forms a new pivot point high. There was increase in both volume and price. This is usually interpreted as a good sign as traders widely believe rising stock should see increasing volume.

MannKind Corporation (NASDAQ:MNKD) Support And Resistance Levels

In case of pullback, the next support the price will capture from accumulated volume will not be far away from current price at $1.28 and $1.22. In case of gains, the next resistance from accumulated volume will be at $1.60, $1.51 and $1.52.




It is important to note, however, that the stock needs to make its way through natural risk while testing a key support level. Once this support is broken, another support level will be to be established at a lower level. Turning back to this stock, MannKind Corporation approaches the first support point just current price at $1.28. In case of a break, the next support we will see from accumulated volume is going to be at $1.22 and $1.12.

MannKind Corporation (MNKD) Risk Assessment

A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.16 between high and low, or 12.12%. The average volatility for the past week stood at 11.25%.

 

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