MNK closes within prior day's range


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

Highlights

MNK closes within previous day's range

Overview

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
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Mallinckrodt plc traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!