This stock is looking really good on the chart to me.
Over the past few days I've been seeing the Bollinger bands forming that nice pincer movement that they do before a sharp movement.
I was a bit afraid that the movement was more liklely down as the MACD was faltering and the RSI was in the overbought territory and turning downwards BUT what a difference a day makes.
Volumes jumped today and the sharp movement was up and the RSI has now levelled off hopefully turning upwards tomorrow.
It seems probable to me that MRX is looking at a big day tomorrow as long as volume is maintained. Previous high of 0.135 looks like it will be toast before the week is out.
For me it's hard when it's blue skies to determine a profit-taking point. Can anyone suggest where MRX will meet a lot of resistance before turning back South?
I'd like to see 0.15 before this happens, am I being too ambitious?
MRX Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
