weekend charting 29-01-10, page-106

Hi MV, I think u asked for a chart on MMZ? 2 great charts have just been done on ORD, so il spare myself the humiliation lol.

MMZ:
Still pending confirmation of ascending triangle breakout, which gives a target of at least 2c (of course it could also go higher depending on the news & overseas mkt etc, the next immediate target is 2.5c & then a large historical gap at 3.2c never filled).

MACD now starts looking bullish as it's turning up & looking to cross soon. Especially like the looks of divergence on MACD histogram also. As I mentioned on DT thread, the massive selling a couple of days ago failed to break the MACD histo low, & so the divergence has just turned positive & the target histo high is still a while to go yet, so looks like we have a lot of room for upward momentum.



2nd chart showing stoch:
Slow stochastic (5,3,3 fit for ST Daily charts) now also looks bullish as it has turned up from oversold area & just made the cross, bodes well for Mon. Hopefully, the overseas mkt helps a bit next week. Mind u, after seeing SMA making 1000% gain in a day of red, wont be surprised to see MMZ making some explosive moves on the back of encouraging techonology news. Could SMA explosion signal the shift of market flavour from biomed sector (ADO, VLA, PNO etc) to tech sector now?