re: Ann: Mako Appoints Macquarie and Acquires...
I don;t necessarily buy from a technical point of view but from a chart perspective the 50 moving average(daily) is just starting to flatten, the short term average has already crossed the 50ma which is a first time for a long time, since January. That gives us a about 8 months down, we are trading in a triangle at the moment and getting close to a break out in my opinion.
On the longer chart(monthly) we are still in uptrend as we are above 50ma...(yes hard to believe!!!)we have retraced so far between the short term and long term average on monthly chart...This is the first retrace in the trend which started around march 2010...we break up between 15 and 16cents above the short term average and we will be running to test previous high at around 35 cents.
Sounds like a plan to me....but hey...the market can do anything at any time....
MKE Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
