MCRL Follow Up

MCRL was a long trade idea from 8/23

 MCRL Daly chart and resistance-there's a nice "W" shaped bottom in place.

 The daily 3C chart looks fantastic.

 The hourly chart also looks very good with a leading positive divergence. Note the negative divergence at the red arrow, see the little pre spike in the red box-that is a head fake move. The head fake forces shorts to cover, sucks in longs and ultimately adds a snowball effect to the reversal as longs are forced to sell, adding supply when their positions turn n to losses.

 The 15 min chart shows accumulation of the dip today, but also seems to indicate MCRL will pullback on more time before it is ready to breakout, hopefully we'll see strong accumulation on a pullback.

 The 10 min chart confirms the15 min chart's findings.

 As does the 5 min chart.

 And the 1 min chart.

I would think the pullback wouldn't be too deep, maybe to the support level, maybe to the 50-bar /30 min moving average. You can see volume is weak on this move higher, so it needs to gather some strength and make another attempt at the breakout, it may be a good lace to buy if you are not in the trade. Feel free to check with me to see what 3C looks like should the pullback materialize.