MCP on the pullback

MCP is a long idea from a week or so back, it was a trade idea in which we wait for price to come to us on an otherwise decent looking long position, thereby reducing risk and getting a better entry with higher probabilities and less opportunity risk.

Here's where MCP stands as of today's pullback of nearly -3.7%

 The X-over systems short and long signals with the expected pullback to be at the $12.60 area, roughly (this may be an intraday low, not a closing level); I would set price alerts.

 The 30 min chart overall shows a nice positive divergence/base in MCP, this is what we like, it also shows the probability of a pullback.

A positive divergence this big should be able to support a strong move up with some duration.

 Intraday it was positive off the open, headed toward the close from yesterday and went negative and saw price follow.

 The 2 min chart shows the same action today

While the 5 min chart is somewhat in line and even slightly positive in certain area, the larger theme is continued pullback. At $12.60 I would take a serious look at MCP, I'll be setting rice alerts. The 10-day ma is really the target so it could be a bit higher than $12.60