MPI getting near the resistance slope

MPI went up by 2.7% to close at 4.90 per share. MPI has been moving within the channel for few weeks now (MPI bounced from lower slope heading towards resistance level) and so far didn’t upset us. Now that it is close to its resistance which is the upper slope its important to monitor for a bearish candlestick formation. In case bearish formation will appear then we will see MPI corrects otherwise, MPI is in for a new chapter.

RSI or Relative Strength Index is now at 76

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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