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|It was a first positive week for the Mallinckrodt Plc (MNK). During the week, the MNK gained 0.69 points, or 3.26%, and closed at 21.87 on Friday, March 15, 2019. Weekly volume was -57% below average. |
MNK is a member of Healthcare Sector. Healthcare is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
Long-term trend: [See MNK long-term trend chart]
A long-term downtrend had started on March 23, 2015 at 134.26 and reached 11.65 on May 4, 2018. MNK lost 122.61 points, or 91.32%, in 162 weeks. The chart has formed a Falling Channel chart pattern. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a long-term trend.
Medium-term trend: [See MNK medium-term trend chart]
A medium-term uptrend had started on December 27, 2018 at 15.18 and reached 27.33 on February 26, 2019. MNK gained -12.15 points, or -80.04%, in 8 weeks. The price is now at the 44.94% retracement level.
Weekly Technical Indicators: [See MNK weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since February 22, 2019. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.
Short-term trend: [See MNK short-term trend chart]
A short-term downtrend had started on February 26, 2019 at 27.33 and reached 20.40 on March 8, 2019. MNK lost 6.93 points, or 25.36%, in 10 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See MNK daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since March 5, 2019. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.