its hard not to like the fundamentals for MRKR. The giant sell off is crazy looking but not uncommon for wall street short attack games to butcher the little biotech stocks like this.
I had studied the chart just enough to see that buying thr 5 dollar bottoms looked like a good entry. I feel like dismissing the lowest Plunged bottoms at 4 whatever and 2 whatever. I hope we dont see price fall below the critical 5 dollar step. at least not below 4.80 lets say. I agree with what Phantom said, that given the positive science,watching the price action is only about target hunting for best bargains to buy, and thats what I'm trying to do these days. -------------------------------------------------------------- -------------------- In this giant downwave,that seems to be slowing down a little now, wouldnt you think that a plunge from 8.80 to first hit 6.50 and then settle at 6.15 might be an extreme pullback target to buy? In a normal price action wave pattern this 6.50-6.00 target area would be the standard Fibonacci target zone for a major pullback, one that would normally take place over a few months time at least. But now, we have seen the resistance capping at 6.70 and then at 6 dollars now looking to fight the battle between 5.50 and 5.80 area to see if it will drop and bleed down another 50 cents to some lower targets before the final bottom gets developed. Unless it settles down here at 5.40. --------------------------------------------------------------- I dont understand well the science fundamentals of complex biotech questions, and really appreciate the DD of others who understand it. I'm just a chart TA guy and I watch closely all the math and the patterns . ------------------------------------------------------------ It looks to me like buying at 6 dollars and 5.75 was ok. and any prices lower are ok. and the zone from 6 to 5 dollars just has to be seen as a buying zone if one is deciding from math patterns and chart price points.The sellers have shown strength to take it from 6 to 5.43 today. Can they do it again tomorrow and the rest of the week to the lower targets? The other day, for a moment the 5.76 looked like a great bargain to buy. At some future point, in a future rally, that 5.75 step will become a Shoulder zone, where support can develop . something to watch when the time comes. It didnt hold today. and now it functions as a Resistance step for tomorrow to watch out for. Lower targets are still in play . 5.50 looks like it wants to try and hold. I remain cautious about it. I bought some here as well as 5.80 the other day, but waiting for the lower targets to make my final buys.
(Anyway,I'm not offering this as any advice for anyone,just my opinion and what I see on the chart) ----------------------------------------------------------------- MRKR 5 minute chart
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