MCP Update

So far MCP has completed the first part of what I'd want to see for a trade there today, a move below the bear flag that hits stops (creates volume), now the second half as I laid it out last night is evidence that those hit stops are accumulated, then it's time to make a call on the position.

Here's what we have so far.

 This morning's break below the bear flag which was the obvious part...

Next we need to see some confirmation that those stopped out shares were accumulated,  I drew in a blue arrow of what that might look like, but it could look a lot of different ways.

If we do get confirmation, I'll be looking at Aug. $7 Calls.