MPIX Daily Chart ~ Cup and Handle Formation Th

MPIX Daily Chart ~ Cup and Handle Formation

There has been a lot of talk of the MPIX Cup and Handle. Here's the formation which I've drawn in yellow. The importance to some technical traders is for a breakout above the highest point of the handle. In the case of MPIX, that breakout point would be the high of .019/.02. Some tech traders always take a wait and see until it happens attitude and enter the stock after the breakout. A fundamental investor, believing that the underlying company will execute and deliver, will continue accumulating that stock before any breakout occurs. Investors using technicals to compliment their fundamental analysis will use both to build large positions prior to a technical breakout which will result only when management produces. So in the case of MPIX, I hear from many traders that they are waiting for the financials and/or a breakout of .02. I hear from many more who are accumulating aggressively as they believe the new MPIX management team will absolutely deliver. The huge importance here would be the large amount of accumulation that has occurred over the last many months. Those shares are being held by longs who don't appear to be going anywhere for quite some time. So while the shitbags and liars out there continue to poo-poo the company, management and stock, I say get ready for history. An OTC company, that becomes 100% compliant, reduces its OS by approx 400 mil shares, and a fantastic future in the entertainment field, is going to be trading much higher than a penny. Get ready for that break of the upper portion of that handle. GLTA