1. Since mid Oct 2009 after a strong burst of activity and price in late sept 2009, MOG has been moving within a Hurst band or envelope as shown on the chart.
2. Whenever it touches the bottom of the envelope, or even exceed ever so slightly, it tends to rebound from off its lows to reach the upper bound of the envelope as shown. This touch of the upper bound becomes the first target.
3. It can exceed the upper bound ever so slightly and then moves back within the envelope, for the short term. Any dip in price towards the lower bound of the envelope is seen to be a good potential point of entry.
4. The general trend of this band envelope is pointing upwards, which means MOG has every potential to start to move up again after correcting for a good 2 months after the sudden upsurge and burst of activity in late september 2009.
5. The upper bound is by no means the final target. As the overall trend is now up, it is important to track further price patterns on the achievement of the first target at the upper bound into the future.
May the best prices be yours in 2010.
dascore
MOG Price at posting:
20.5¢ Sentiment: ST Buy Disclosure: Held
