Thursday, March 8, 2012

Put MCP on Your Radar

It's unusual to see a stock that is up and really leading positive like this... I'll be looking for an entry long.

 30 min MCP the green arrows are trend confirmation, white are positive divergences and red negative. This stock seems to like to run parabolic head fakes like the one around the 30th with the red arrow above price, but the recent action has been leading positive.

 Here's a closer look on a 15 min chart, accumulation into the 27th and the 13th, now the 15 min chart is leading positive.

 The 5 min chart shows the reversal at the top to the left, again a head fake move with a lot of downside momentum from it, some small accumulation around the start of the month and a head fake move at the yellow arrow, currently though it's leading positive.

This 2 min chart shows that head fake mentioned above clearly, but on the 6th, 3C never came down with price.

I like the looks of MCP, I'd like to catch a pullback to look at a long position here. In any case, I would keep this on your watch list.

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