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MNK pushes through previous session high


Technical Analysis Report for MNK - May 17, 2018 [< 1 min read]
Highlights
MNK pushes through key resistance level
MNK ends the day on a bullish note closing near the high of the day
MNK pushes through previous session high
MNK rises to highest close since March 16th
TQ Sentiment
Technical Forecast:
Overview

MNK finished Thursday at 16.07 gaining $0.50 (3.21%). Today's closing price of 16.07 marks the highest close since March 16th. Closing above Wednesday's high at 15.96, the stock confirms its breakout through the previous session's high having traded $0.24 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for MNK
Volatility

Thursday's trading range was $0.74 (4.75%), that's slightly below last trading month's daily average range of $0.82. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly above average.

Support/Resistance

Breaking through the key resistance level at 15.79 today, it is now likely to act as support going forward.

Trend

Though Mallinckrodt Plc is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.

Conclusion

While classical technical analysis indicates a bullish sentiment for the next trading day, our quantitative statistics show a different picture being neutral.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Price broke through Technical Resistance R1 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

MNK breaks key support level

May 18, 2018
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