A cup for MRC?

After slowly falling from 0.127 to around 61.8% Fibonacci Retracement level, MRC is now moving up and it seems to be developing a cup which will end back to 0.127 per share.

Ichimoku elements are in a bullish setup with Tenkan Sen line moving above the Kijun Sen line and Chikou Span is hovering above the price. Price may touch 0.097 before bouncing to respect Kijun Sen’s magnetic force. Immediate resistance is seen near 0.105

RSI or Relative Strength Index is at 54

Caveat!

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felix

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.

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