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Wednesday, August 03, 2016 9:49:14 AM
MFST Chart ~ Yeah, I know..... Charts and technicals don't work
Fine! But in the meantime, the technicals continue their correction from being in very overbought levels just two weeks ago. RSI from the Nose Bleed Zone (No, not the falsely titled power zone), FullSto of its very overbought level, and the MACDs which are still in full arrest. The MA200 has given a little bit of support, but after today's filing of 20MM shares coming to a screen near you, I'm thinking a close below it, on good volume, just might bring to play a test of .006s (green support line).
Getting close to a re-entry, though. Simply stated, the chart and technicals were correct yet again!
Fine! But in the meantime, the technicals continue their correction from being in very overbought levels just two weeks ago. RSI from the Nose Bleed Zone (No, not the falsely titled power zone), FullSto of its very overbought level, and the MACDs which are still in full arrest. The MA200 has given a little bit of support, but after today's filing of 20MM shares coming to a screen near you, I'm thinking a close below it, on good volume, just might bring to play a test of .006s (green support line).
Getting close to a re-entry, though. Simply stated, the chart and technicals were correct yet again!
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