MPIX Daily Chart ~ A Closer View in this Six Month
Post# of 5570
Posted On: 10/06/2013 11:51:25 AM
MPIX Daily Chart ~ A Closer View in this Six Month Chart
On the six month chart below, you can see that the stock price is above the MA7, 10, 16 and 20 (aka the middle bollie). Next up is the MA50, 100, and 200, and all three are sitting from .01 to .012. Those moving averages should be recaptured this week. Additionally, the MA50 should also be moving over the MA200 in short order thereby offering a Golden Cross to those technical traders that use that particular event as a buy signal. The upper bollie also began to level out over the last two weeks and is beginning to move up with the stock price to accommodate those technical traders that might find and of these as potential selling levels. Since most everyone I know, with the exception of a few trading groups, are long term holders that are looking for much higher prices, I don't believe these resistance points, including the tops of .018-.02, are going to be of anything other than minor resistance. The A/D Line would be one such indicator showing the continued accumulation even through the pullbacks. MPIX is not a chart play, although a few will probably sell at the typical resistance targets and be left behind now that management if finally ready to execute. Again, as I mentioned in my previous post, there are many now sitting with long term capital gains of as much as 1100%. Factor in the preferential tax treatment of as low as 15%, and that's been a whole lot easier than executing 10s or 100s of trades of many for a 10-30% short term flipping gain at much higher tax rates. It's my opinion that those shareholders who invested into MPIX in the .01s will do very well in the near future. GLTA
On the six month chart below, you can see that the stock price is above the MA7, 10, 16 and 20 (aka the middle bollie). Next up is the MA50, 100, and 200, and all three are sitting from .01 to .012. Those moving averages should be recaptured this week. Additionally, the MA50 should also be moving over the MA200 in short order thereby offering a Golden Cross to those technical traders that use that particular event as a buy signal. The upper bollie also began to level out over the last two weeks and is beginning to move up with the stock price to accommodate those technical traders that might find and of these as potential selling levels. Since most everyone I know, with the exception of a few trading groups, are long term holders that are looking for much higher prices, I don't believe these resistance points, including the tops of .018-.02, are going to be of anything other than minor resistance. The A/D Line would be one such indicator showing the continued accumulation even through the pullbacks. MPIX is not a chart play, although a few will probably sell at the typical resistance targets and be left behind now that management if finally ready to execute. Again, as I mentioned in my previous post, there are many now sitting with long term capital gains of as much as 1100%. Factor in the preferential tax treatment of as low as 15%, and that's been a whole lot easier than executing 10s or 100s of trades of many for a 10-30% short term flipping gain at much higher tax rates. It's my opinion that those shareholders who invested into MPIX in the .01s will do very well in the near future. GLTA
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