$MPIX Support levels continue to hold The lows

$MPIX Support levels continue to hold

The lows put in from may through early July continue to hold on the daily chart.

The support levels are .001, which is the lowest area of major support, .0015 the next highest level, and finally .002, which has not been closed below since July on a daily basis and is also the weekly chart support level which has not been closed below on a weekly basis.

Even with the daily share swaps and bidwhacks, the price continues to hold support. This is consistent with a bottom formation process which precedes an up move. The June-July bottoming formation is a good example of this process.

The pullback started on June 20 and chapped along the lows until mid July. After that move you can see on the chart that the high before the pullback into the current lows began in mid August. These mid month moves are what lead me to believe that the window for moves are mid month, and given that we are at the end of the month at this point, and more importantly at the end of the quarter, that realistically we need to look at the October time frame.

As mentioned, last year's move to the 8.5 cents high was made in Mid October, which is what I am expecting here given how this stock seems to like anniversary dates and run on a tight cycle. Last year's low was put in around May, the same period of time that this year's low was put in, and I am expecting a similar move.

In addition the firm is working with an investment bank which probably has some road show or marketing work planned for the 4th quarter, and this usually kicks of in October.

Continue to patiently accumulate this area.

[IMG]http://i.imgur.com/YPIKs.png[/IMG]