Investors Hangout Stock Message Boards Logo
  • Home
  • Mailbox
  • Boards
  • Favorites
  • Whats Hot!
  • Login - Join Now!
Mindpix Corporation MPIX
Posted On: 01/06/2013 2:03:43 PM
Post# of 5570
Avatar
Posted By: Big Tuna
Re: machiavelli01 #1751

I'll agree with that one Mach. The .035 is from a simple measured move from the .0041 previous low's correction to the high of .02. Using the same percentage would take the next leg from the current low of .0062, from this pullback, to approx .031/.035. But if you look back at a longer term view, say an 18 month daily below, you'll see very little consolidation during the decline back in the mid .03s. So I would expect that we won't spend a lot of time there if at all. Obviously a move to the mid .03s would get a few 100% profit takers that may have entered in the .016-.02s  the last leg up. The stronger resistance will be met at the .056 to .0885 imo.



Here's a view of the .0885 high and the .056 level. As you can see, other than a measured move to the approx mid .031/.035, there isn't much resistance offered at that level. Either way, I'll take a short rest a .035 if it happens along the way to new highs in a couple of months.















(0)
(0)









  • New Post - Investors HangoutNew Post

  • Public Reply - Investors HangoutPublic Reply

  • Private Reply - Investors HangoutPrivate Reply

  • Board - Investors HangoutBoard

  • More - Investors HangoutMore

  • Keep Post - Investors HangoutKeep Post
  • Report Post - Investors HangoutReport Post
  • Home - Investors HangoutHome
  • Mailbox - Investors HangoutMailbox
  • Boards - Investors HangoutBoards
  • Favorites - Investors HangoutFavorites
  • Whats Hot! - Investors HangoutWhats Hot!
  • Settings - Investors HangoutSettings
  • Login - Investors HangoutLogin
  • Live Site - Investors HangoutLive Site