MRVC Play Pans Out
Posted on Mon 8th Jan, 2007 10:58:13 AM
This chart of MRV Communications (MRVC) comes after a call based on a Double 50 DMA Bull Flag of a few weeks ago. The major aspects of the original call included the two supports off the 50 day moving average, alongside an uptrending 50 day and good support accumulation. Today the stock is retracting on lower volume, and may represent another buying opportunity for those who are interested. The stock is trading in the low $3.60s currently after hitting a high of $3.83 last week.
