Two reasons for posting this chart.
1) MNK is a long standing established generic and specialty manufacturer with products that have real usage. This is NOT a one hit wonder biotech. It would be bought out before full bankruptcy.
2) More importantly, when was the last time you've seen a CLEAR bullish divergence on a MONTHLY chart?
This will be a bag I hold probably until the end of 2020, but I expect it's first leg breaking out of its downtrend within the next 6 weeks.
A Monthly bullish divergence MUST not be ignored. If you have money you are not actively trading with, THIS is where you put it.
As you can see the accumulation volume over the last 6 months is there as well.
Weekly has bullish divergences as well.
On a shorter time frame, the daily is flagging. Breakout point 3.20 with target of 5 dollars.
1) MNK is a long standing established generic and specialty manufacturer with products that have real usage. This is NOT a one hit wonder biotech. It would be bought out before full bankruptcy.
2) More importantly, when was the last time you've seen a CLEAR bullish divergence on a MONTHLY chart?
This will be a bag I hold probably until the end of 2020, but I expect it's first leg breaking out of its downtrend within the next 6 weeks.
A Monthly bullish divergence MUST not be ignored. If you have money you are not actively trading with, THIS is where you put it.
As you can see the accumulation volume over the last 6 months is there as well.
Weekly has bullish divergences as well.
On a shorter time frame, the daily is flagging. Breakout point 3.20 with target of 5 dollars.