Tuesday, May 08, 2012 11:39:26 AM
$MPIX bouncing as charts predicted
As predicted numerous times, especially yesterday, $MPIX has put in a low and would begin bouncing soon, and today it has begun the initial stages of the bounce.
Take a look at that chart, it could not be clearer. $MPIX is at a support level from 6/29/2011 which makes it a very powerful support level. That is where the smart money got involved with the stock and no doubt took profits at the high water mark, and I am positive that they are revisiting the stock right now at an entry price that made them a lot of cash last time around.
In fact, you can see that accumulation has really spiked in recent months. Some people were early and accumulated the 2 cent level, while others grabbed the penny level, and then you have the people who bought the panic sell from last Tuesday.
If you understand these entry levels, then you understand why I think that $MPIX should be a no brainer bounce to 1 penny, stands a very good chance of piercing 1.5 cents, and should gain momentum to get as high as 3 cents. In fact, once the trend followers and momentum penny players get a hold of this it should not be long before the move really gets going.
Once again, look at that beautiful bounce off the dead lows. If you still need the full analysis of this bounce take a look at my analysis of the daily and weekly charts below.
(Bottom chart is a closeup)
5/7/2011 Daily chart analysis
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=75306784
Daily Chart analysis 5 independent reasons for a bounce: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=75233012
Weekly Chart analysis cyclical and long term support at current lows: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=7521375
As predicted numerous times, especially yesterday, $MPIX has put in a low and would begin bouncing soon, and today it has begun the initial stages of the bounce.
Take a look at that chart, it could not be clearer. $MPIX is at a support level from 6/29/2011 which makes it a very powerful support level. That is where the smart money got involved with the stock and no doubt took profits at the high water mark, and I am positive that they are revisiting the stock right now at an entry price that made them a lot of cash last time around.
In fact, you can see that accumulation has really spiked in recent months. Some people were early and accumulated the 2 cent level, while others grabbed the penny level, and then you have the people who bought the panic sell from last Tuesday.
If you understand these entry levels, then you understand why I think that $MPIX should be a no brainer bounce to 1 penny, stands a very good chance of piercing 1.5 cents, and should gain momentum to get as high as 3 cents. In fact, once the trend followers and momentum penny players get a hold of this it should not be long before the move really gets going.
Once again, look at that beautiful bounce off the dead lows. If you still need the full analysis of this bounce take a look at my analysis of the daily and weekly charts below.
(Bottom chart is a closeup)
5/7/2011 Daily chart analysis
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=75306784
Daily Chart analysis 5 independent reasons for a bounce: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=75233012
Weekly Chart analysis cyclical and long term support at current lows: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=7521375
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