MNKD was added as a Long Trade Setup on Oct 6th with a entry to be triggered on a move above 0.68 (i.e.- any print of 0.69 which would also be considered the entry price) and a suggested stop on any move below 0.64 (i.e.- any print of 0.63 which would be the price at which the trade was stopped out).
MNKD daily Oct 26th
Since the setup was posted, I hadn’t watched the stock closely or I would have either removed as a Trade Setup or at least revised the entry criteria as the stock experienced a fairly large drop after the setup was posted before triggering an entry. After the large drop (~30%) shortly after the setup was posted, the stock put in another divergent low & then reversed and rallied over 56% in just a few days to trigger the entry (and not a penny higher) before reversing. As the stock was already too extended following a 3-day, 56% rally when the breakout was triggered, the odds for any additional upside at that time were very low & as such, the stock fell back & triggered the stop.
I realize I am sharing this in hindsight & I’m not sure if anyone took to the trade but as I never pulled the setup or revised the entry criteria, MNKD will be considered an official trade that was stopped out for a loss. The total percentage loss from the entry price of 0.69 to the stop hit at 0.63 was 8.7% although due to the extremely aggressive nature of this low-priced stock the suggested beta-adjustment for this trade was 0.33, thereby resulting in a beta-adjusted loss of only 2.87% (as a 1/3 position size was suggested). MNKD will now be moved to the Completed Trades category.