Marker Therapeutics Inc (MRKR)

[123tom]

As bizarre as the plunge has been
lets look at the technical price action.

Ive been watching it on the 1 minute and 5 minute charts. The recent pivot lows and bounces to the resistance (failing pivots),is showing overhead target points at 6.15/6.35/6.50/6.70 and above that were the first resistance pivots from the first plunge to 6.35,which retested 7.35 area, and there is a box of resistance pivots around there 7.25 area/7.40 was a peak there. A decent recovery rally now has to first reach the first steps at 6.15/6.35 area, 6.50 and 6.70. before it can start testing the 7's. I know that technical charts can get shattered,in both directions, and we could see a big rally surge back to retest 8 dollars if something straightens out the investing wall street mind here, but for the moment, if we just look at technical price action, I want to see a bounce climb to test 6.35 area anything higher will be showing some bullish strength possible. The pattern I want to see now, a bounce to 6.35 area,a pullback that HOLDS ok around 6 dollars, which looks like the key balance point now, 6 dollars. All this is based on the 5.80 Holding as a finish Bottom now. If 5.80/5.75 breaks down, it becomes a reset/recalculate ,when the bottom sets in.
Lets say for math examination here, the bounce as a first wave peaks at 6.35 and pulls back to hold at 6.00. setting up the next technical rally pattern. The math move from a 5.75 Bottom to 6.35 peak is a first wave of 60 cents. That yields a Fib projection for the next wave to target the 7.30 area.
I'm watching now to see if these math track patterns play out.

The 5 minute price action target zone from a month ago.chart