MCP on the Radar

Yesterday was another MCP Update with some excerpts including,


"That being said, it consolidated largely through time (sideways) and it looks like it's getting ready to make another move to the upside....

this 60 min still looks like there's gas in the tank....

This is the 2 min with a positive leading divegrence, I'm not crazy about short term timeframes unless there's a lot of volume, but this looks legitimate...."

So far this morning MCP has hit an intraday high of +15.5%, currently at +9%.

There has been decent migration among MCP's intraday timeframes, although not my favorite, the more liquid a stock and it's shorter timeframes, the better the signal, which is why I mentioned updating if the 5 min chart sees a stronger positive divegrence like a leading one, but this isn't a bad 5 min chart MCP divergence.

While not leading as spectacularly as some of the shorter term charts, this isn't a bad divergence in MCP's 5 min timeframe.

Just keep an eye out if you are interested/in MCP as it's very close to breaking above the former highs of the last leg.