Weak Bullish Signal via Kijun Sen Cross on MCP

The Harami pattern which could have been the sign for reversal for MCP was not confirmed today. Instead price pierced through the Kijun Sen and registering a weak bullish signal. This line will now be our immediate support which is at 13.18 per share. The Senkou Span B of Kumo will also act as support.

The 13.18 level is also interesting since we saw some actions here last January and February of this year.

RSI or Relative Strength Index is still low at 56.

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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