$MPIX breakout confirmed On Friday $MPIX closed a
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$MPIX breakout confirmed
On Friday $MPIX closed above the 20 DMA. Today, we have a close above Friday's high, thereby confirming the breakout. This means that any pullback to the 20 DMA area can be bought, but also that the next price target is .004.
Today price closed at .0031, which is the pivot low from July/August. I will concede that volume was low today, but what strikes me as interesting is that we really didn't see any bidwhack attempts today which has been the norm.
A million shares clears out CDEL at .0031 and then it's onward and upward to .004. By that time though, there should be some good momentum and we would be looking for a close back above it to start the next leg of the rally.
[IMG]http://i.imgur.com/Ez88a.png[/IMG]
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