MRC chart

Maybe a new thread for this... be interesting to come back to this and see how it goes over the next few months. Plus the better chartists that hopefully stop by will add some intelligence to this

A few basic things from me. Chart might finally be starting to look better. The whole of 2021 from a chart perspective looks ugly but there appears to be a few points to explain this:

• If it is a tightly held register, then the sell off from the previous CEO would have a big impact. As you can see in the below screenshot from spid.
• Bad comms from the company. A review completed by the company says that the market finds it hard to attribute value to the company. I only partly believe this. I think I could pull some strategy slides together that highlights the vision and value, and then advertise this to the market.
• Positive note - is that the first higher low is many many months.
• Didnt see a massive sell down like other spec companies due to market turbulence on the Russia / Ukraine situation. This might prove point 1 above
• If this is the bottom of the retrace, looks like MFI indicator has just started rising which is a positive sign.
• I have drawn two lines on the chart, where previous support might be short term resistance in the future