Hi freeus,
You're very welcome, as always.
Regarding MVK (as opposed to 'your' MVK <ggg>), things are looking pretty good technically. The stock now almost satisfies the definition of an uptrending stock, since it has tested its downsloping (or horizontal) long-term moving averages successfully, then taken out that high with a subsequent rally. The only thing missing is a bullish crossover of the moving averages. MVK now looks prepared to move further north, with technical buy signals in Williams, OBV, and the 5-3-3 stochastic (a better indicator here than the 15-5-5, BTW), and a very bullish candle on Friday following a Doji on Thursday:
askresearch.com
The volume dropped off some Thursday and Friday, which is a bit bothersome. The best entry point would have been Friday, when it exceeded Thursday's HOD. But I'd say MVK is still a buy today from a technical perspective. Overhead is at 25, and MVK is sitting on pretty solid support from the 200 day ema, with the other moving averages below for the time being, and looking ready to cross above the 200 day in the next few weeks or so. The 200 ema will be far more solid support if this crossover occurs, IMHO, but for now, it will very likely still provide good support. That's because in the transition from downtrend to uptrend there is usually some confusing jockeying around vis-a-vis moving average support, before a stock settles into the usual patterns of support and resistance from its moving averages.
I wish you continued good luck with MVK, and as always,
JMVHO........
WS |
