Ok thanks 4 that... you use the 200 day exponential moving average which is at 79 and i use the simple moving average which is at 98 on the daily chart.
Interesting how on the Weekly chart the 200 day simple MA was at 40 which was the low, and the 200 dayEMA was at 50 which has provided a firm base over the past 3 weeks (give or take a cent)
Weekly chart looks very nicely set up for a strong rally - RSI is recovering from lows of 30, at 46 now, so by no means are we remotely close to being overbought despite a strong close today. -DMI on the verge of crossing positive _ Elliot wave pattern showing 3 waves up last year, a 4th correction wave down over the past 6 months, and when we get a weekly close above 76-77 it will give a buy signal suggesting the high probability 5th wave extension higher with a target of 2.00 to 2.25 by August.
So based off all that i still feel the 600 k seller at 79 could make a whole lot more mileage if he hangs on for a while. cheers
MPO Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
