John - RE: MCHM, interesting! Something sure started to happen in September, but I cannot find a record of what it was. That was when it broke out from the 3 1/2 to 7 1/2 range. Working from only the chart, the trend changed radically in Sept. Volume has gone up and stayed up since then.
LONG TERM: OBV crossed it's 90 dma on 9/9/97, turned down at the peak, but bounced off the ma without crossing it. Long-term stochastics and macd have NOT yet crossed to the upside again, but are going there now.
SHORTER TERM: indicators are strong, with Stochastics 13,8,8 at 50 and rising, and macd 12.26.9 having crossed the signal line, and about to cross zero. Money Flow and OBV are pushing into positive territory.
A "W" has formed in the last 10 days, and it looks like it may pull back a little, then go. The w's second low is higher than the first, which is bullish. The NASDAQ Biotech index is about to make a triple bottom, which agrees with the idea of a small pullback before the big run. I would be surprised if the pullback came down to lower than 8 3/4. BTW earnings are - $.19/shr.
There is 147 million shares issued, but the trading float is only 16 million. There are a bunch of insider sales in the last two years, but mostly 1996, and then the sales were individually small potatoes.
None of this is guaranteed, of course. Just the way it looks to me. I LIKE this stock. Thanks for bringing it to my attention.
-AL |
