MPCC - updateMPCC has also seen quite a rise of the share price and currently I´m convinced that this is not the end of the road and price will at least rich the upper channel line over the next years to complete the wave 3 (white count).
Currently, a leading diagonal started the rally and we have seen two 1-2 setups which is a very bullish sign. I´m looking for the price to take out the high indicated by the green line before it will need to pull back again. This pullback in the future will give us the chance to stock up on this company shares.
MPCC trade ideas
Update MPCCMPCC went very deep and not as I expected but it didn´t make a new ow on the daily chart.
Please check my previous analysis on MPCC.
Now, I´m looking at this short time analysis and hope to see price turning up from the any of the red Fibonacci levels. Price must not cross the red line for the short-term bullish outlook to remain valid.
Probably, I would need to sell if the red line is broken in an impulsive manner.
Let´s see what happens!
MPCC - MPC container ships - ready soon (?)Another very interesting candidate especially giving the high dividend yield that the company pays to their share holders.
My analysis indicates a wave 2 of wave 3 (one degree higher up) will soon come to an end.
The price action doesn´t look like it is ready just yet though price is inside my designated target area where a turn could happen.
I would like to see a clearer divergence and the RSI to break out of the RSI range between 45-55 on the daily time frame. Also, the price didn´t bounce from the 50% fibo level but instead stopped in between 38-50% which indicates that more downside will come.
Stay patient and wait for a very good chance to buy the stock for cheaper prices.