MRVC Double 50 DMA Bull
Posted on Thu 28th Dec, 2006 09:59:35 AM
M R V Communications (MRVC) has setup a nice double 50 DMA – 50 day moving average -Â bull flag. The keys that make this pattern relavent include the uptrending 50 DMA and also the strong volume support when bouncing off the 50 DMA. Making a play on this stock is simple, buy as close to the 50 DMA as possible, and place a stop below it. Currently MRVC is trading around $3.53, so if you bought here a stop at $3.30 would be sufficient. You could also wait for a high volume break above $3.80 to take your position.
More on this topic
(What's this?)
Bull Trap
(Short-Term Trading, 9/25/09)
The Good Doctor And Other Tidbits
(Random Roger's Big Picture, 11/6/06)
Bullish Investor Sentiment Above Long Term Average
(Disciplined Approach to Investing, 9/18/09)
3 Responses
Other Websites Referencing This Post
- NYX Chart and Discussion, 50 DMA Holds - Stock Trading 101
- MRVC Play Pans Out - Stock Trading 101
- MRVC Shoot Up Over 12% - Stock Trading 101