over bought chart needs polish, page-4

In cases where indicators show "overbought"...

The stock can either fall back down to "balance the books" bringing indicators back to a normal distribution curve...or...they can trade heavy volumes for a period near the top of the "overbought" position, effectively bringing the indicators up to the price.

When charts go off the scale as MPO has of late, you cannot rely on charting indictors for direction...they simply are not designed for such large or volatile moves.

Need to, among other things, resort to more basic rise/fall, VWAP and candlestick methods...which I tend to find a fairly reliable mix for short-term trend definition.

Break line now at 12c, (buy/sell support level)...with a likely break of this tomorrow or Wednesday and consolidation in the 12.5-13c level till late Thursday, followed by a potential Friday break into, but not necessarily through 13-13.5c.

Next week should be a good week, with 15c likely to be hit at some point.

That's what my money says...but...if I am wrong, I will go backwards...lol...no big deal!

Cheers!