Put on strong watch on the 9th for island reversal bottom bounce to resistance at 62. Got it the next day. I liked it, because entry/exit indicators had given early entry signals, with Support indicator at BE IN with decreasing sell pressure. Have to say I didn't expect it all in one day. But as I've posted about island reversals many many times, island reversals only come back if you see as much positive emotion on the way up, as seen negative on the way down.
Note this is what is happening today. Gap and volume emotion. IMO insiders bought the gap up at open, with wash trades. To create large emotion without news. On their second attempt for reaching 1 dollar for 10 days. Expect the American exchange got tired of their excuses and told the now or your off. (see my last post about this)
At any rate, when I evaluated it Sunday. It had stalled at resistance with no volume build. Though insiders were not behind the pop. Usually they keep it going once started. Guess I was wrong. Because they came back with a vengeance today. http://stockcharts.com/h-sc/ui?s=MCZ&p=D&yr=0&mn=3&dy=0&id=p44268313548
So there the lowdown on island reversals and stocks non- compliant needing to get compliant. When you see listed stocks gap down below a buck. don't expect a climb back up. But a surge around 30 to 90 days later. Watch the entry/exit indicators at a new bottom and hope! LOL
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