MCP is still within the range, I'm surprised it didn't put in a stop run head fake move as the range was so well defined, but either way it's up nearly 5% today.
The charts look good, the MCP Calls from last Friday are up over 20% so far and this stock hasn't even broken out of its base yet, it's one of my favorite longer term long positions.
I would not chase MCP here, but it is well within a reasonable area to buy or add to a long position, I just prefer to wait for the trade to come to you rather than you chasing it. There's not a lot you can control in the market, but wherever you can exert some level of control, do so. In this case that means control your emotions and let a reasonable trade set up come to you.
This range isn't even half of the base, I'm a little surprised there wasn't a quick run of the stops, but the entire range was a larger GS induced run of the stops on a downgrade and why do you think they did that?
Here's today's intraday action, so far it looks solid, volume looks good.
These divergences are much bigger than I show here, but I'm just updating, not going through the entire idea as I have many times before, The 1 min chart is more than in line on this move, it's leading positive so that's good.
The 15 min chart has been building a strong divergence and this is why there have been so many recent long calls for MCP, this and other divergences have just been spectacular, thank you Goldman, we appreciate you slurping up the supply.
This hourly chart doesn't tell a quarter of the story, but I wanted you to see in at recent areas.
MCP looks like a big winner, just show some patience.
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