Tuesday, August 6, 2013

MCP Charts

I'm thinking a target of $7.60-$7.75 would be the minimum move, but this is still a short term trade like AAPL, you get when the getting is good or you get got... Isn't that what they say? That's what happens when you work alone all day.

 MCP Daily chart with a great 3C stage 1 accumulation, BOP is even looking good here, this hasn't moved to stage 2 "Mark-up" yet and I don't think it will until it pulls back at least once more.

This 30 min chart shows the accumulation and the run we traded, then distribution which should ultimately send MCP down to the target area in the green box and there I think it will be a longer term trade, likely to move to stage 2 like our URRE long did.

 Short term though for our purposes. the 10 min has enough accumulation for a decent trade so long as you are somewhat nimble.

 The 3 min shows a longer trend, this still isn't going to be a swing trade, but it looks like it can add some nice gains.

And the 2 min is seeing a lot of recent strength as if Specialists and other short term traders (Pros) were picking it up in anticipation of a move to the upside.

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