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Others Stock

[MRCB]


1.07 or 1.70? If 1.07 thats must be from way back in Jan 2007 and you've some paper profits already. So, it must have been 1.70.

Anyway, if you look at the daily, weekly and monthly charts, the stock is presently strongly supported at the price range of 1.15 - 1.25 which was tested as early as March 17, 2008. On the weekly chart it was additionally supported by the SMA200, which appeared to have been breached today; and the additional support on the monthly chart is by the SMA50.

If these supports continue to hold, and since the small head and shoulder formed last April 21 was already completed on May 30th, the price may go back up to say 1.65 or thereabouts. Otherwise, the downward spiral even to 0.82 looks pretty plausible.

Personally, I was quite upward biased until today when the price closed lower than the doji formed on June 16th. So, I would not buy yet until I'm pretty sure about the direction.

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