MannKind Corp. (MNKD) is our TraderHR Free Stock Pick for Friday December 10. It gained 50 cents, or 7.45%, Thursday on double-than-average volume, closing at $7.21, the highest close since March 2010. The stock is trying to break strong resistance around the 7.20 area.
Another indication of a possible trend reversal is the double-bottom pattern, with MNKD reaching a bottom in May at 4.76 and again in November at 5.07. If current momentum continues MNKD could reach its next resistance level around the 8.10-8.50 area. Preferred entry (buy stop) price is 7.35, with a stop loss at 6.80.
Originally published on TraderHR.com.
