Saturday, July 14, 2007

mvis revisited

I decided to take a technical look at MVIS today, for no other reason than it's been a long touted stock of "the fly" and I typically trust his picks and enjoy reading his blog. So here we go...I broke it down weekly, daily, and on a 15-minute time frame and picked up some pivot points that the stock reacts to. On the weekly time frame the stock is in an upward channel and closed this week just above the 10-period EMA and at the lower end of its channel (a good buy point?). The stock had support at the $5.04 price last year. Now that price is a point of resistance. So, we look for a close above $5.04 on increased volume.

On the daily chart there's resistance at $5.09, with an ascending triangle taking shape.

And finally, on the 15-minute time frame $5.10 is acting as a pivot point.

MVIS also has a pretty high short interest around 10.6%. Would be nice to see it squeezed.

1 comment:

Dinosaur Trader said...

Nice work. Let's hope it manages a strong close over $5 soon!