tea leaves, charts and trolls

Whilst I firmly believe the fundamentals will tell the story for Maverick, it's always a bit of fun to cross-reference with some T.A as well. The tea leaves at the bottom of my cup this morning suggested that an Ascending Triangle (a bullish formation that indicates accumulation) may be forming on the MAD chart. If it proves to be so, Ascending Triangles usually form during an uptrend as a continuation pattern, so a breakout to the upside would be expected once the formation is complete. There has been a significant distance between the 'reaction highs' with a 'reaction low' between them. The length of the pattern can range from a few weeks to many months with the average pattern lasting from 1-3 months. Volume usually contracts as the pattern develops, which has also been happening with MAD.

If you're part of the cheer squad (as I am), the anticipated activity and news flow from Maverick in the weeks and months ahead would tend to support this expectation. Time will tell.

By the way, when we come across a troll, our first instinct is to reach for the baseball bat... but the most effective way to kill a troll is to starve it (of responses).