Isn't a typical correction flow when the stock price spikes on some sort of news without the supporting volume, causing a correction the next trading day(s)? With MNKD's volume, I would expect a regression to some higher support; perhaps, more than $5, but not a correction. IMO, based on volume, there's nothing to correct.
The trade is happening going into the trial completion "catalyst" which has been long anticipated. No data, just the completion, remember, so if there IS a correction it's not going to be a "sell the news" sort of thing and I think $4.70 is too low if you are looking for an entry point. The base over $5.00 is just coming into play as well (timing really couldn't be better for longs on THAT) and that brings some institutional players into the field (although I don't think that the level is as big a bar to progress as some posit, still it's a momentum builder).
I'm guessing that next week is too early to expect a real correction, though a Bear Raid isn't probably out of the question - Maybe out to the first week in June, although I wouldn't count on being able to get in under $5.00 even then. If anything positive comes out of the Annual Meeting it could be "Katy bar the door" time.
My take - If you are holding, keep holding and if you're not, buy in now. I strongly suspect that the "get in cheap" days are done here.
Sentiment: Strong Buy
Harshal, I am not being critical, but you posted the comment. So my question is where is your analysis and logic to support what you posted? I am not agreeing or disagreeing with you, but posting such a comment and then asking others without any support, and then asking others to provide the support seems rather weak...LOL