MNK trending well since breaking $100

١٨ مارس ٢٠١٥

MNK is not a stock I would normally consider as it only has data going back 18 months or so. However, it has been trending up that whole time and, since passing the $100 figure, has begun to trend well.

Prior to breaking above $100 the pullbacks were quite deep - frequently breaching the daily 50ma. But as price approached, and tested, this zone the 50ma began to act as support. There was a doji just below the resistance and, later, a spinning top retest as $100 became support.

On 16th March there was a breakout bar (on higher volume) followed by another bullish bar yesterday. Volume is good on this stock so a buy opportunity beckons.