MPIX Daily Chart ~ Short Term Breakdown I rec
Post# of 2561
Posted On: 04/10/2014 9:15:53 AM
MPIX Daily Chart ~ Short Term Breakdown
I received more than 40 emails, texts, and phone calls since yesterday afternoon in regards to me resigning as Moderator of the MPIX board. Thank you for all the kind words. All I was attempting to do was to offer a board without the clutter and childish message found on most stock message boards. Since a couple of whiners (not my friend Lilac Blue) who felt that their whining and drivel is more beneficial to shareholders and others seeking information on MPIX, and began crying because I didn't want their BS on that board, they now can post all their worthless garbage, as that appears to be their main choice of investment strategy.
As to the technicals and MPIX goea, as anyone following MPIX already knows, there has been a downwards slide in the share price for over one month now. The stock has now fallen into the .004s intraday while closing at .005. There was a good amount of support at the .005 level back in November and through most of 2013. Looking at the chart below, the stock is once again at that level of Sept and Nov. The FullSto and MACDs are in decline with the Ms all in oversold territory but not yet leveling out. Yesterday's large selling volume of approx $50,000 found its way into some solid hands as I know who purchased almost 7.3 mil shares of the 11 mil that traded. To try to put things into perspective, yesterday's volume of 11 mil shares represented approx 1% of the OS. That's a very low turnover of stock when compared to most stocks that trade much higher percentages of their OS. All the buyers that I know, over the last few weeks, have chosen to bid, and in many cases, much lower in the hopes of snagging shares at cheap prices. That strategy worked for them especially yesterday. What will turn the tide of MPIX will be the pending uplist to the QB, announcements of revenue producing projects, and consistent shareholder updates, which, unfortunately for all off us, has been absent in this self-imposed management quiet period as they work towards that uplist. Things will turn. GLTA
I received more than 40 emails, texts, and phone calls since yesterday afternoon in regards to me resigning as Moderator of the MPIX board. Thank you for all the kind words. All I was attempting to do was to offer a board without the clutter and childish message found on most stock message boards. Since a couple of whiners (not my friend Lilac Blue) who felt that their whining and drivel is more beneficial to shareholders and others seeking information on MPIX, and began crying because I didn't want their BS on that board, they now can post all their worthless garbage, as that appears to be their main choice of investment strategy.
As to the technicals and MPIX goea, as anyone following MPIX already knows, there has been a downwards slide in the share price for over one month now. The stock has now fallen into the .004s intraday while closing at .005. There was a good amount of support at the .005 level back in November and through most of 2013. Looking at the chart below, the stock is once again at that level of Sept and Nov. The FullSto and MACDs are in decline with the Ms all in oversold territory but not yet leveling out. Yesterday's large selling volume of approx $50,000 found its way into some solid hands as I know who purchased almost 7.3 mil shares of the 11 mil that traded. To try to put things into perspective, yesterday's volume of 11 mil shares represented approx 1% of the OS. That's a very low turnover of stock when compared to most stocks that trade much higher percentages of their OS. All the buyers that I know, over the last few weeks, have chosen to bid, and in many cases, much lower in the hopes of snagging shares at cheap prices. That strategy worked for them especially yesterday. What will turn the tide of MPIX will be the pending uplist to the QB, announcements of revenue producing projects, and consistent shareholder updates, which, unfortunately for all off us, has been absent in this self-imposed management quiet period as they work towards that uplist. Things will turn. GLTA
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