MPIX Daily Chart ~ Close to a Bottom As you've n
Post# of 5570
Posted On: 08/27/2013 7:27:43 AM
MPIX Daily Chart ~ Close to a Bottom
As you've noted, Handshake, MPIX is close to a bottom, but a few of the indicators aren't there quite yet. They could 'catch up' should the stock begin trading sideways or the stock could drop more. We will know a bottom is in only after a reversal which confirms that a bottom has been put in place. If the stock drops more, one should always be looking for the next possible support level especially if one is considering adding more to their position or looking at entering the stock.
There's no question the MPIX stock is ugly. Twelve of the last thirteen trading days have been red days. Should the .007s not hold, one should be prepared for the next horizontal support which rests in the low .005s. While some of the indicators are already extremely oversold, others haven't bottomed out yet. The hardest thing about trying to catch a falling knife is that one can get sliced. But selling out at near bottoms also hurts. There probably we a few investors who sold and moved on just before the moves of November, May and July right at the times when the MPIX chart was showing as the stock being very oversold. Just scroll down the right side of the chart, compare the various indicators with their current positions versus where they were just before the previous moves, and then make your own decisions as to whether you think it's time to hold and wait it out, add or sell. GLTA
As you've noted, Handshake, MPIX is close to a bottom, but a few of the indicators aren't there quite yet. They could 'catch up' should the stock begin trading sideways or the stock could drop more. We will know a bottom is in only after a reversal which confirms that a bottom has been put in place. If the stock drops more, one should always be looking for the next possible support level especially if one is considering adding more to their position or looking at entering the stock.
There's no question the MPIX stock is ugly. Twelve of the last thirteen trading days have been red days. Should the .007s not hold, one should be prepared for the next horizontal support which rests in the low .005s. While some of the indicators are already extremely oversold, others haven't bottomed out yet. The hardest thing about trying to catch a falling knife is that one can get sliced. But selling out at near bottoms also hurts. There probably we a few investors who sold and moved on just before the moves of November, May and July right at the times when the MPIX chart was showing as the stock being very oversold. Just scroll down the right side of the chart, compare the various indicators with their current positions versus where they were just before the previous moves, and then make your own decisions as to whether you think it's time to hold and wait it out, add or sell. GLTA
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