MCP Up nearly 5%

This is the one last week I said looks like a nice base, it's the kind of long position I just tuck away and let it take care of  itself. Today it's making a decent run, but more importantly the bigger picture is coming together nicely.

 Remember I had said some of the stocks that have run don't look so good, some of the beaten up ones are looking better, MCP falls in to the second category. You may recall after capitulation support formed and was broke, that was accumulated. Last week we saw some support areas broken as well, but I wasn't concerned with them as the same behavior was taking place. MCP stills has some proving to do before it can hit stage 2 mark up, but it's developing well.

 Today it passed a tweezer top resistance area (red) and still is in a zone of congestion/resistance so it will probably be a tough battle through this area, but it should make it.

 The 15 min chart showing that first support area that was broken and accumulated on large volume from the stops, overall it's still in a leading positive position.

 Intraday the 2 min chart is in line with price, you can see several positive divergences as MCP broke below support last week.

 Here's a 3 min chart with the break of support and a nice positive divergence (leading) on that move.

And the 5 min since coming down from what looks a little like the peak of a 'w' base, the leading positive divergence here looks great. I still like MCP and don't worry too much about intraday or day to day gyrations, the bigger picture is shaping up well.