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The question I have now is whether MIIF is going through a correction using time, waiting for the 20dMA to catch up before moving higher in price. The 20dMA is fast approaching 54.5c and to any chart watchers, it is quite obvious that this price is the immediate support.
The Bollinger Bands look like they are in the early stages of squeezing, signalling the onset of lower volatility and a possible springboarding (or diving) of MIIF's unit price to come. The OBV has been continually moving higher while the MFI is approaching 50% which could serve as support. RSI suggests that the buying momentum has weakened but the MFI which takes into account volume as well shows that demand has been rising.
If the immediate support at 54.5c should give way, the next support is at 53c, a many times tested resistance level. This is where the 50dMA is approximating as well. Strong support is at 51c which is also where the rising 100d and 200d MAs would be in time.
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4 comments:
Hey my friend, I just discovered your blog and want to know if you want to do a link exchange?
Jeff
http://zentrader.ca
Hi Jeff,
Sure, I would be glad to do a link exchange with you.
I notice you have added my blog to your blogroll. I have added yours to mine.
As we say in Singapore, HUAT ah! It means to prosper. Hope to see you again. :)
Thx. If you're on my blogroll I'll be back. :-)
Hi Jeff,
Likewise. Thanks. :)
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