freeus,
MVK could well base here for a while. That would only be good, and would make a further uptrend that much stronger IMHO. But, as you say, critical overhead is 25, with solid support beneath. If it traded sideways from here, I'd expect a rather narrow trading range, since the overhead and support are not that far apart.
Technicals look hesitant right now. Actually, there are early sell signals in Williams and OBV, but these have not been confirmed with a 5-3-3 crossover, and in any case do not necessarily mean that lower support will not hold. In fact, I anticipate it will.
askresearch.com
The intraday chart shows technical weakening as well, but MVK is still trading solidly above upsloping intraday moving averages. It will probably test that support soon, and so I would not want to have a stop at or above that level if I were long.
askresearch.com
As long as support holds, I wouldn't get impatient here, particularly if MVK bases for a while. That makes the upside move more likely, and more solid.
All JMVHO.................
Walkingshadow |
