MPIX Daily Chart ~ Big Selloff Last Week MPIX
Post# of 2561
Posted On: 04/13/2014 2:55:52 PM
MPIX Daily Chart ~ Big Selloff Last Week
MPIX sold off last week on fairly large volume with many rumors swirling among chat rooms and boards, most of which appear to be false. The weenie whining level from a few also hit fever pitch, and that is typically indicative of a capitulation bottom. MPIX release two separate announcements which seem to tie in a few more pieces of the puzzle. As to the chart, it's obvious that the multi month support levels of .007 and .005 were taken out easily over the last 2.5 weeks of downside pressure. Friday saw a slight rebound with a low for the day of .004. The 12d MACD has proven itself again to be a great momentum indicator and finds itself in very oversold levels along with the other indicators after weeks in a negative downward move. When there's blood in the streets, as we've seen in the overall markets, it usually takes a while for the churning and consolidation to take out the weak hands and those that simply have had enough. Keep an eye on the FullSto and MACDs for an indication that the worst is over with. Looking forward to the Q1 being filed by 4/15 and the uplist to the QB to occur over the next 1-3 weeks. Maybe we'll then see the announcements of some revenue producing projects. GLTA
MPIX sold off last week on fairly large volume with many rumors swirling among chat rooms and boards, most of which appear to be false. The weenie whining level from a few also hit fever pitch, and that is typically indicative of a capitulation bottom. MPIX release two separate announcements which seem to tie in a few more pieces of the puzzle. As to the chart, it's obvious that the multi month support levels of .007 and .005 were taken out easily over the last 2.5 weeks of downside pressure. Friday saw a slight rebound with a low for the day of .004. The 12d MACD has proven itself again to be a great momentum indicator and finds itself in very oversold levels along with the other indicators after weeks in a negative downward move. When there's blood in the streets, as we've seen in the overall markets, it usually takes a while for the churning and consolidation to take out the weak hands and those that simply have had enough. Keep an eye on the FullSto and MACDs for an indication that the worst is over with. Looking forward to the Q1 being filed by 4/15 and the uplist to the QB to occur over the next 1-3 weeks. Maybe we'll then see the announcements of some revenue producing projects. GLTA
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