MPIX Daily Chart......... Oh So Close Now to the Next Leg Up
Good Morning Cube, GreenFever, JohnnyB, and all you silent MPIX shareholders! Hoping that the consolidation and churning is just about over, as I'm sure just everyone else is hoping for the same. Nothing changed much from yesterday's chart. Still seeing the once daily share swap. The bidwhacking has reduced dramatically this week as compared to the last four weeks. My guess is that most of those that wanted to move on due to need, boredom, nervousness or considering MPIX simply dead money, have probably done so for the most part.
As to a few technicals, the share price is sitting just above the MA7 and just under the MA16. Maybe it will take another day or two of sideways movement before the 16 is at the mid .008s to .0089 level of the last few days. The middle bollie, or MA20 is dropping quickly now reflecting the weakness of the last twenty trading days. The stock price has been holding the rising MA50 too. The next three trading days should bring both the 16 and 20 in line or close to the .009 tag. A move by Friday to the .01 level would be a good thing in my view. The FullSto and faster MACD have crossed to the upside, also a good thing. The slower MACD has leveled out, and a move to approx .0095 should bring the Histogram to the zero line with a cross of the signal and indicator lines to the upside, yet another good thing. The upper and lower bollies are beginning to tighten. The tighter they get suggests nothing more than a move in either direction will occur. I'm still banking on a sharp move to the upside when we finally get news as the accumulation of MPIX has been very strong. That curved declining tops line has proven to be resistance during the entire decline and consolidation, and a few of you were probably ROTFL when I first suggested that it is a technical pattern. One just has to keep an open mind to trading patterns that repeat themselves on numerous charts. Look for a break out of this pattern as early as tomorrow.
Hoping for a nice few days and weeks ahead. GLTA
