Moonlake Immunotherapeutics Ordinary Shares is up a bit on the day, funds flowing in kept the price up 2.22% since yesterday. It looks like MLTX may be interacting with an upward sloping support line. These can create nice entry points since it can have both momentum and support. In addition to being near an angled support line MLTX is near a moderate strength horizontal support line. This represents a potential pivot point where the price might find support and move upward. But it can also break through
this line in which case there might be a burst of selling on the other side. Moonlake Immunotherapeutics Ordinary Shares hasn't been that impressive in terms of its 3 month momentum, we'll see if it can turn things around and start heading up or continue its slide down.
If the price bounces off of the support and moves up it'll probably head up to the $22.16 level, at which point it may hit some selling pressure. There aren't very obvious support levels beneath this point. So put those stop losses on, this thing has room to fall if buyers don't come in at this level.
