Tuesday, April 20, 2010

MPEL - Jumping back up

MPEL - BUY SIGNAL


After seeing a doji candlestick yesterday which is the first sign of a reversal and a potential bottom, MPEL jumped back up strongly today over its 200 day MA today and thus gave us a BUY SIGNAL. MPEL and now appears to be resuming its major up trend after a pullback during the last couple of trading sessions. MPEL's stochastic is also about to give us a BUY SIGNAL. Looking at the chart and MPEL's trend since the month of March, I think it is very likely of seeing MPEL get near $6.00 before the next pullback. To confirm this BUY SIGNAL we want to see MPEL remain above its 200 day MA tomorrow and preferably hitting a higher high or closing higher.

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