127.2% Fibonacci Retracement level supporting MCP’s price

The 11.51 per share or 127.2% Fibonacci Retracement level has so far been able to support the price not to close below it. So far the Bullish Harami we saw last June 24 was able to maintain its bullishness. Price may continue to move upward as long as the current support will hold. Kijun Sen line at 12.4 per share may also make it possible for the price to at least close the gap as it attract the price to come near it.

RSI or Relative Strength Index is at 33


The following two tabs change content below.


A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

Leave a Reply