Will MPI hit 4.0?

MPI has been going down for many weeks now. It has broken the support for the possible double bottom and recently broken the 127.2% Fibonacci Retracement level. With greater bearish sentiment hovering MPI, this may touch 4.06 soon.

Ichimoku elements are all telling us MPI is in a downtrend. Also, notice that our chance for MPI to spike to 4.5 is now very slim since the Kijun Sen line has finally bent down after few days of moving sideways.

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.

One Response to Will MPI hit 4.0?

  1. […] Ichimoku elements on both daily and weekly charts are still in red but there might be a bounce play for MPI. We are still using the same chart we posted last time at Will MPI hit 4.0? […]

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