There is good evidence to suggest that this newly formed (and therefore young and breachable) price level has become largely respected by traders. The odd bailer has sold for a tad less here and there, but for now, this 45.5/46.5 level is laying the foundation for another rally. Look at the Elliot wave and see the projection for 52 cents for Tuesday forward. Monday will be the the final (and overwhelming) confirmation for that support level and from there i beleive it it will spike for the third time and search for a new support level (which i predict early will be 67cents).
Now - resistance 45.5 cents - 46.5cents has become 90% set.
Monday - Final confirmation needs to be at 45 or above. Tuesday - foundation layed for rally in a few trading days.
This stock has never looked so smart. Its graph is one of about 3 that i have discovered lately that have a superstrong growth potential with the direction mozaiced into several indicators and analysis modes. From a scheduled point of view, we are due an announcement any day - its so overdue that its due and it is believed that it is going to be a whopper - so do your own research.
46 Close today is good ;-)
Cheers,
L
MAE Price at posting:
45.0¢ Sentiment: ST Buy Disclosure: Held
