Posted On: 12/22/2013 10:34:30 PM
Post# of 2561
MRIN Daily Chart ~ A Battle Underway at the 10.00 Level
MRIN is trying to break over the 10.00 and move higher. The current trade is our second swing trade of Dec after the pinch of the PPO/ADX and double bottom held in late Nov/early Dec. Link back to previous thoughts on the charts. The retest of 6-7 days ago in the high 8.00s gave the stock the setup needed for another run at the high of 9.98 and the psycho level of 10.00. Tomorrow and the rest of the Christmas week should be interesting especially since most of the tax selling is pretty much behind us. The next level of resistance is the falling MA50 at 10.39. Should MRIN reach that level, the the MA100 at 11.60 would be a reasonable target. The FullSto is barely in overbought territory, while the MACDs have plenty of room to the upside. GLTA
MRIN is trying to break over the 10.00 and move higher. The current trade is our second swing trade of Dec after the pinch of the PPO/ADX and double bottom held in late Nov/early Dec. Link back to previous thoughts on the charts. The retest of 6-7 days ago in the high 8.00s gave the stock the setup needed for another run at the high of 9.98 and the psycho level of 10.00. Tomorrow and the rest of the Christmas week should be interesting especially since most of the tax selling is pretty much behind us. The next level of resistance is the falling MA50 at 10.39. Should MRIN reach that level, the the MA100 at 11.60 would be a reasonable target. The FullSto is barely in overbought territory, while the MACDs have plenty of room to the upside. GLTA
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