MPIX Daily Chart ~ Reversal Underway and Set to Ta
Post# of 5570
Posted On: 08/04/2013 8:13:43 PM
MPIX Daily Chart ~ Reversal Underway and Set to Take Out the Almost No Resistance at .019/.02
Good evening MPIXers! Allow me to repost my chart post of July 31 for a review of the chart and technicals on that day.
http://investorshangout.com/post/903802/MPIX-...echnical
What I posted was that virtually every indicator was very oversold. Here's the chart, as of Friday's close, and compare this one with the one of July 31 to get an idea what to look for in other stocks when looking at technicals and charts. Note the positions of the indicators which I've annotated in an elongated blue rectangle. Although there is never a guarantee in stocks, charts are great tools to use as calculated entry and exit points which can assist one in making better trading decisions. As far as the .019/.02 horizontal resistance on MPIX, I wouldn't put too much weight in that. When the stock traded up to that level in Dec and again in May, there entire volume at .018 to .02 was less than 600,000 shares. I believe only 30k traded at .02. I know, because I bought them. The fundamentals coming shortly from the new T.E.A.M. management will be delivered and executed as per their business plan. We should be hearing about that very soon now. GLTA
Good evening MPIXers! Allow me to repost my chart post of July 31 for a review of the chart and technicals on that day.
http://investorshangout.com/post/903802/MPIX-...echnical
What I posted was that virtually every indicator was very oversold. Here's the chart, as of Friday's close, and compare this one with the one of July 31 to get an idea what to look for in other stocks when looking at technicals and charts. Note the positions of the indicators which I've annotated in an elongated blue rectangle. Although there is never a guarantee in stocks, charts are great tools to use as calculated entry and exit points which can assist one in making better trading decisions. As far as the .019/.02 horizontal resistance on MPIX, I wouldn't put too much weight in that. When the stock traded up to that level in Dec and again in May, there entire volume at .018 to .02 was less than 600,000 shares. I believe only 30k traded at .02. I know, because I bought them. The fundamentals coming shortly from the new T.E.A.M. management will be delivered and executed as per their business plan. We should be hearing about that very soon now. GLTA
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