Sunday, May 13, 2012 8:30:37 PM
$MPIX weekly chart bullish reversal setup
Good evening gentlemen. I had a great week of trading last week and just had a fantastic weekend. Work hard, play hard, that's the life of a trader.
The $MPIX weekly chart has a bullish reversal setup for smart money looking to play a bounce. We have price, pattern and most of all timing on our side.
Price: $MPIX is at a key support level, the .002 dead low area from last year which preceded a rally to nearly 9 cents.
Pattern: Last week the stock formed a doji candle at the dead lows. Two doji candles formed near the all time highs on light volume prior to the hard reversal back down. This doji is formed on heavy volume at the dead lows. In addition there is an accumulation trend at the lows, which is something I only pay attention to when there is divergence from price.
Time: All stocks function on cycles. The stock ran a 12 month up and down cycle and has now come back home to the price it was trading at 12 months ago to set up for another run.
This is beautiful entry for anyone who has 2.5%-5% to spare out of their penny stock trading portfolio for a possible 300% to 1,000% move off the dead lows.
It's good to be a trader gentlemen, looking forward to this week.
Good evening gentlemen. I had a great week of trading last week and just had a fantastic weekend. Work hard, play hard, that's the life of a trader.
The $MPIX weekly chart has a bullish reversal setup for smart money looking to play a bounce. We have price, pattern and most of all timing on our side.
Price: $MPIX is at a key support level, the .002 dead low area from last year which preceded a rally to nearly 9 cents.
Pattern: Last week the stock formed a doji candle at the dead lows. Two doji candles formed near the all time highs on light volume prior to the hard reversal back down. This doji is formed on heavy volume at the dead lows. In addition there is an accumulation trend at the lows, which is something I only pay attention to when there is divergence from price.
Time: All stocks function on cycles. The stock ran a 12 month up and down cycle and has now come back home to the price it was trading at 12 months ago to set up for another run.
This is beautiful entry for anyone who has 2.5%-5% to spare out of their penny stock trading portfolio for a possible 300% to 1,000% move off the dead lows.
It's good to be a trader gentlemen, looking forward to this week.
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