MPIX Daily Chart ~ The Consolidation Continues Very Close to the .019/.02 Double Top
1.5 weeks ago, MPIX hit an intraday high of .019 forming a double top. I really have no worries about that top being taken out very soon. The last time the stock was at the .019/.02 level was on Dec 17/18. If you look back at the chart, the stock fell almost 65% in one day after the previous management destroyed shareholder value with one swipe of the pen with an OS increase of 600 mil shares overnight. It was unfortunate for everyone invested in MPIX at the time. The good news, in hindsight, is that over the next four months, many shareholders have been able to accumulate millions of shares in the .005/.006 area. Now that new management has taken over, and we've seen six solid releases over five weeks, the stock has rallied to that .019 level and has NOT dropped back into the .005s after that horrendous event on Dec 17/18. Instead, the stock has churning for just over a week within a range of .0132 to .0187 but trading mainly in the .016s and .017s. The great news to me is that the flippers have not been able to re-enter with any large amounts of buying. It was a great thing to see many left behind after the stock ran from .005 to .008. While the flippers made their 20-60% in a couple of days, those with patience saw returns of more than 250%. Others that have been holding from the low of .0008 are now up over 2000%. Guess what? IMO, MPIX/ZZYX is going much higher over time. So trade the stock as you wish, but once the company begins announcing what they've been working on. Although retreating a bit from extremely oversold conditions, the selling that we've seen is being absorbed to the tune of millions per day. This stock really should not be looked at as a chart play. I share a chart now and then so others can learn the various indicators which will help you in our investing with all stocks. MPIX/ZZYX is a fundamental play with a huge potential for upside as management is clearly building something here. A few are asking me daily why the stock isn't moving. LOL, up almost 300% in a week, and resting now for 1.5 weeks and still up over 200% from the start of the move. Too funny!
See you shortly above .05. GLTA
