At times...especially when a company is ramp-up phase after a long period of poor performance and retail support is required...it is not uncommon for a company representative to post on their stock.
Steve50's posts seem informed and of an educated nature and given their content...I am inclined to feel he is close to the company in one way or the other and as such, I tend to view has posts with this in mind.
I have been in and out of MSC many times over the past 4 years or so...and like most who have had exposure over this time, I have lost money on it.
It is with a sense of intrepedation therefore that I find myself, once again, attracted to the stock...but this time, I am ignoring the fundamentals and looking only to technical analysis.
Technically, we are seeing a major trend reversal in play, with 2c a significant pivot number...we also now effectively have a double bottom confirmed at this level.
The major volume spurt and subsequent rally in November last year was actually the turning point...but was not confirmed until last week, with the 8th May mirror spike.
It now appears we are seeing a textbook turn-around story.
Heavy volume break...retrace and test of support...confirmation rally and finally, yet another retrace to test (and confirm) support.
We are seeing the tail end of the final process now, so any break upwards from current levels should finally see the stock testing the paramenters of it's new trend.
Not sure when it may run, or what may kick it off...but at current levels, MSC seems like a no-brainer on technical grounds.
Today's 5m share cross trade only adds to the "pivot" reversal scenario.
I bought a few today...and will keep doing so at a modest rate from time to time until it breaks through 2.4c once again...after which, I may well take a serious postion.
Cheers!
MSC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
