MNKD (Mannkind Corp) will trigger a long entry on a break above 1.45, the top of this minor resistance zone shown on the 60-minute chart below. The current price targets for the Swing Trade are T1 at 1.86 & T2 at 2.24 with the potential for this trade to morph into a Long-term Trade with much higher price targets, should MNKD reverse here soon & break out above the primary downtrend line on the 2-year daily chart (2nd chart below).


As highlighted towards the bottom of that daily chart, MNKD is currently coming off extreme oversold levels with both of the previous extreme readings of around 20 on the RSI followed by triple digit rallies in this biotech company. Due to the fact that MNKD is clearly entrenched in a vicious bear market that has wiped out about 98% of this company’s market cap in less than 3 years, this should be consider an extremely aggressive, counter-trend trade & as such, best to pass if this doesn’t not mesh with your trading style, investment objectives or risk tolerance. The suggest stop, assuming that an entry is triggered with a cross over 1.45, will be any move below 1.25 for those targeting T2 (lower, if only targeting T1). Due to the aggressive & volatile nature of this stock, the suggested beta-adjustment will be 0.60.