Tuesday, April 03, 2007
Position Updates: MVIS
Via Flyonthewall.com:
| : | Microvision-MVIS: Technical Alert: Bullish Patterns | ||
| We don't see news to explain the +5% move today in the name but there are some positive potential patterns that bear watching. The first is on the daily chart in the form of a bullish cup and handle. The pattern is in progress ("handle" now at second peak) and needs to break $4.10 to enter the final leg. The objective looks to be in the $5.50 area. That is a huge move for the name, so bear in mind it will likely take something positive on the fundamental front as a catalyst to get it there. The second bullish pattern is a potential bullish (inverted) head and shoulders on the weekly chart. The breakout is the same as the cup and handle since the handle is in fact the right "shoulder" of the pattern. On a breakout above $4.10, the objective looks to be to the $6.50-$7 area. Again, that isn't likely to happen on pure technicals alone. The tricky part when dealing with the single-digit stocks is setting a stop since even a 20c move can mean 5% or more. The $3.60 area today would be that stop. On a breakdown below that level, the patterns would be invalid. NOTE: Shares are short-sale restricted, 9.78 days to cover, 639K 10-day average volume. A squeeze is a higher than average risk. | |||
Comments:
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Yes, I'm back, bitches.
And for the record Fly, I was never given a vote. Would you have afforded me that opportunity, I most surely would have remained your humble guest blogger.
And for the record Fly, I was never given a vote. Would you have afforded me that opportunity, I most surely would have remained your humble guest blogger.
Ahh maybe so hawkmooon, but it seems you showed up (or at least began commenting) around here after that period, so your opinion should be counted as moot.
I thought stops on MVIS were useless and just for pussies?
I have to admit that every time I set one it got hit to the penny and then the stock advanced.
You won't see me in MVIS again until it breaks ut to $4.10 or down $3.20
I have to admit that every time I set one it got hit to the penny and then the stock advanced.
You won't see me in MVIS again until it breaks ut to $4.10 or down $3.20
Bah, I've been reading Broker A from his HundredPercenter days, and this site was just a place he posted his IM conversations. I read a lot more than I comment though.
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