Micro Imaging Technology Inc (MMTC)

[coolnapz]

$MMTC higher low pattern could mark lows

Buying product innovation plays such as MMTC takes an incredible amount of patience and timing as these companies can languish indefinitely and then one day hit the news wires with an announcement seemingly out of nowhere.

The trick is trying to buy as low as possible. Given the recent news events and corresponding flush nearly to the trips area, I think that the worst is behind MMTC.

At this point the stock appears to be forming a pattern of higher lows on the daily chart with bids overall trending higher over the past couple of months.

I do not have a forecast on a breakout or even a technical breakout pattern forming, but at the very least the pattern is telling me that the lows are likely in on the stock for the forseeable future. If that is the case then this could be the set it and forget it play of the year at these levels as I buy cheap and just wait for big news in the months to come.