MPIX Daily Chart.......... A Six Month View of Things
After consolidating for almost two months in March and April between the .005s to .007s, MPIX finally broke to the upside with a swift move to .019. The stock hs spent almost the last four weeks churning between the .015s to.017s with a few quick dips down into the .013s and up into the high .0189s. Although the FullSto and MACDs continue correcting to the downside due to the extremely overbought conditions of a month ago and sideways movement in share price, the stock is holding up very well during this period. Of interest is the AD Line which is approaching 600 mil. That's a ton of accumulation from the time that previous management destroyed approx 70% of the market cap with the increase of the OS by almost 700 mil over night. Those type of horrible decisions take the market a few months to digest.or rather the stock being sold to be absorbed. And there has been a very large amount of accumulation. The longer term moving averages, 50ma and 200ma, continue to rise, while the shorter term MAs, 7, 10, 16, and 20 have all converged tightly at the .017 level now. The last time that occurred was in late April. One can see the subsequent move of 300% just days later. All this, imo, points to an very nice move shortly. Unfortunately, no one knows when. Once the next leg is underway, which I expect with the first break above the .019/.02 double top, I hope to see .05 in short order. Whether the stock continues higher to the .0885 previous high is yet to be seen. There will be many pullbacks and consolidation periods as the stock trades consistently higher over time as management continues to execute. So far we shareholders have only been witnessing administrative type decisions pertaining to share structure, management and board changes, and work towards becoming 100% compliant. Once the company is ready with all their internal 'fixes', I hope we'll immediately begin hearing about the many projects and events. Again, my opinion only, but I see a great opportunity in MPIX as the new, world class management team continues to do everything right in building a foundation upon which to build one. Buying on the dips has proven to be the right strategy to date. I believe that scenario will continue to benefit those using that strategy as MPIX grows. GLTA
