MNKD Retest and Rebound$MNKD
Here we see this asset hit an all time low back in november, but has been steadily climbing the past few months. I would call it a dead cat bounce but with volumes still in the multi- millions, people seem to still be paying attention. Mankind has released information about putting their company into "Plan C" which is basically an attempt to get their stocks back up there. Multiple reworkings of financials as well as a lot of loans and possibly a 50 mil share increase.
Just from the charts you can tell that we've been bouncing around in the 0.45 - 0.65 column, looking very horizontal, but with some decent volume play going on. Mid December there was a test of the resistance and the price managed to bounce up and off of the 0.85 resistance line and is currently retesting at 0.65. You can see a recent price crossover with the 20 ma as well as an upcoming 20ma and 50ma crossover, both good indicators. Similar outlooks in the MACD but none of the signals are too strong, which to be expected when we see so much horizontal movement and the averages are caught up to the price, so I'm taking those with a grain of salt.
All things taken into consideration, the retesting of resistance combined with upcoming fiscal changes within the company and consistently decent volume, I'd say it's worth it. This post is mostly for me so I can fully explain my thought process, but as always criticism is appreciated.
