"Apr 13, 2012 (Candlestick via COMTEX News Network) -- Analysts have spotted a possible bullish inside day candle pattern in MannKind (NASDAQ:MNKD) based on the price action in the company's shares. Yesterday's price range of $2.16 and $2.20 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of MannKind may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.In the past 52 weeks, shares of MannKind have traded between a low of $2.14 and a high of $4.75 and closed yesterday at $2.18, which is 2% above that low price. The 200-day and 50-day moving averages have moved 1.27% lower and 3.17% lower over the past week, respectively.

MannKind Corporation is a biopharmaceutical company focused on the development and commercialization of therapeutic products for diseases such as diabetes, cancer, inflammatory and autoimmune diseases. The Companys lead investigational product candidate is the Technosphere Insulin System.

Potential upside of 138.5% exists for MannKind, based on a current level of $2.18 and analysts' average consensus price target of $5.20. MannKind shares should first meet resistance at the 50-day moving average (MA) of $2.31 and find additional resistance at the 200-day MA of $2.89."

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