MWIDE almost done with the cup?

MWIDE is currently on track in creating the cup which will end near 14.71 per share. After that we need to monitor if it will create a handle or it will continue to move upwards. Based on our weekly chart, there is a possibility that MWIDE will hit the 17.x level. But this might take a while and somehow MWIDE will take a rest. For those who are holding MWIDE you may continue to hold and monitor for bearish candlestick pattern near the resistance. For those who wants to get in, maybe you need to wait for the correction or breakout.

RSI or Relative Strength Index is currently at 69

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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