MNK appeared on our Two Day Low Short scanner a few minutes after the open. The stock had a significant rally into the 200 EMA followed by a small range day as shown in the daily chart above.
When MNK formed a bear flag on the 5 minute chart as shown above, we called the trade live for members. MNK traded down to a low of $59.59.
Our Two Day Low Short scanner is just one of our profitable scanners. This scanner doesn’t just look at the past two days of trading. It also looks at the past 30 days of trading for very specific patterns. If you would like to be alerted to trades like these, we offer a 7 day free trial.