Wednesday, January 26, 2011

MRNA-PERSPECTIVE

The market is all about perspective, not value. Maybe perception is a better word, but MRNA may be about perspective. This was an earlier C&D trade that didn't pan out, I may have had the wrong perspective.

 The bullish descending wedge is what I may have missed, it wasn't quite there a few weeks ago, bt now it's obvious.

 A closer look reveals support at the wedge support line and a reversal.

 Here we have an important 15 min positive divergence, this is pretty significant.

 The 10 min is positive too
as is the 5 min.

MRNA may be in the process right now of starting a run up and it's still pretty early in that process. This is a C&D trade so it's speculative and your risk management should reflect that.

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