MNK closes within prior day's range

Mallinckrodt plc (MNK) Technical Analysis Report for Jul 31, 2020 | by Techniquant Editorial Team


MNK closes within previous day's range


MNK finished the month -16.79% lower at 2.23 after gaining $0.10 (4.69%) today, notably outperforming the S&P 500 (0.77%). Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range.

Daily Candlestick Chart (MNK as at Jul 31, 2020):

Daily technical analysis candlestick chart for Mallinckrodt plc (MNK) as at Jul 31, 2020

Friday's trading range has been $0.23 (10.65%), that's slightly below the last trading month's daily average range of $0.25. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for MNK.

One bearish candlestick pattern matches today's price action, the Bearish Hikkake Pattern. The last time a Bearish Hikkake Pattern showed up on June 9th, MNK lost -6.67% on the following trading day.

Prices are trading close to the key technical resistance level at 2.38 (R1).

While still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Market Conditions for MNK as at Jul 31, 2020

Loading Market Conditions for MNK (Mallinckrodt plc)...
Latest Report:

MNK runs into sellers again around 1.64

Aug 06, 2020
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