Wednesday, July 18, 2012 5:32:16 PM
$MPIX pierces but closes above support
The higher low support trendline continues to hold like a champ. The bears have thrown everything the can at it for nearly a month and have been unable to close below, let alone break this support level.
Accumulation continues to trend upwards and that my friends is bullish. Once the stock starts trading above and then closing above the 20 DMA then the rally should be on. Until then just be patient and follow the trend. The trend is your friend.
The higher low support trendline continues to hold like a champ. The bears have thrown everything the can at it for nearly a month and have been unable to close below, let alone break this support level.
Accumulation continues to trend upwards and that my friends is bullish. Once the stock starts trading above and then closing above the 20 DMA then the rally should be on. Until then just be patient and follow the trend. The trend is your friend.
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