MRQ - chart thread !, page-1269

Moving averages (depending if the price is above or below) can act as intermittent support or resistance and when the price action is testing a point of resistance, which is 1.2c for MRQ, when the moving averages meet the price it can act as a catalyst for a larger move to play out.
Basically a build up of pressure at that price point is then released.

One would hope that the price action breaks out to the topside, as opposed to breaking down and through the MA's as this would see a change in trend suggesting further consolidation is required.

Odds are in favour for a move higher with many other indicators trending favourably to suggest a continuation of the current trend will play out.

I'll post a chart up on Friday to show how this scenario is playing out. My guess is if the 1.2c mark is not taken out by the end of the week, prior to the MA's hitting the current price, then Monday / Tuesday next week will see the above scenario come into play.

MACD above the 0 control line and trending higher is a very good indicator to suggest further positive price action is likely.