Tuesday, November 22, 2005

MMI (M29) TAs Wise


TA –wise, we know that MMI is now consolidating along with its very suggestive low volume. Accumulation/distribution, OBV, ADX, Stochactics and the Momentum are currently in an unfavourable to trade zone!
However, a peer at the Weekly chart confirms that it is now in MACD bearish stage in contrast with the Daily Chart’s MACD bull call, 13 period ago. This is telling us that there is a lot of upside potential soon. The significant resistance and the consolidating resistance are $0.60(touches twice) and $0.55 respectively. Decision to enter trade is better to  be leaning more to these breakthroughs and the current Tech stock’s market sentiment!

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