Sorry it took a couple a days to get back to the board, just had hip replacement surgery.
In the last couple of days, MNKD has down broken through the intertermediate term bullish uptrend line(which began on or about March 4). As a result of this breakdown of this important level of support, one can interpolate a potential downword move, to test the support at the $3.27.
There is also a secondary shortterm line of support at the $3.67 - $3.70 level which I believe will soon be tested. If the stock can hold these levels ($3.67-$3.70) and move back up over the $4.00 level with some decent volume I would remain shorter term bullish.
If the stock does not hold the $3.67-$3,70 area of I would look for a move down to the $3.27 level and maybe to $3.21 which is the 50dma. If it breaks throught those support levels, I believe we can expect that MM"s will attempt to close the gaps at $3.11 and $2.83.
Please keep in mind that I am only a charting hobbyist and have although I have studied chart interpretation for many years, I hold no particular expertise in the field and my interpretations should only be considered as opinionated guesses, nothing more.
Trend
Positions
Long 20k shares
Long 20k Feb 2016 warrants
