Jun 25, 2013 (SmarTrend(R) News Watch via COMTEX) --
MannKind (NASDAQ:MNKD) traded in a range yesterday that spanned from a low of $5.93 to a high of $6.70. Yesterday, the shares fell 3.2%, which took the trading range below the 3-day low of $6.26 on volume of 8.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
In the past 52 weeks, shares of MannKind have traded between a low of $1.57 and a high of $8.06 and are now at $6.25, which is 298% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 1.8% while the 50-day MA has advanced 2.7%.
SmarTrend is monitoring the recent change of momentum in MannKind. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of MannKind in search of a potential trend change.
Write to Chip Brian at cbrian@mysmartrend.com
http://futures.tradingcharts.com/news/futures/Watch_for_MannKind_to_Potentially_Rebound_After_Falling_3_18__Yesterday_199700985.html
