MATRIX Penny Stocks

[livermore4ever]

XMSR Technical Update

Hello!

XMSR is a very technical stock, in the last few months several patterns worked perfect creating great trading opportunities…

After a well succeeded H&S pattern in March/April, XMSR hit the downside targets on May, on a major big sell off…
Another pattern, with strong technicals that we should mention, was the breakout of the Descending Resistance (R(1) on the chart) in June, that almost made the upside projection on a very fast move…

Since then, it started to create an ascending support already with 3 contacts (positive reactions), the last one was last week, making a nice upside reaction…
On the upside, we can easily see the descending resistance line, already with 4 contacts…

Momentum, can be seen with the DMI benchmark, and it’s easy to watch the short term indecision around the triangle pattern, with the DMI pretty gluing to the 50 mid level..

It’s a bit early to talk about it… but this is a symmetric triangle, a pattern that can provide us a buy or selling signal, depending on what side will breakout…
Right now, the main key values are:
$26,60 (up reference)
$24,50 (down reference)
Note: That I have changed the ascending Support from the last Technical Analysis.

My XMSR Technical Chart:
http://globalspeculators.com/trading_futures/index.php?topic=36.0

This values would trigger the next big move on XMSR…. (Attention, because this values change every day, due to the leaning trend lines)
The projections are the $31 level on a potential upside breakout of the pattern, and the $20,50 level for a potential downside breakout of the pattern.

So, I recommend a lot of attention on XMSR for the next sessions, as the pattern is getting stretched…. I’m liquid and waiting a signal for my next move on XMSR…

Thanks !
Jesse Livermore
http://globalspeculators.com