Discussion in 'Technical Analysis' started by ess1096, Jun 10, 2007.
MLNM might be ready for an upside swing. The previous divergence predicted the recent downtrend.
look how extreme the divergence was last week and the stock still dropped.. that said,i like how it held the march 6th low of 10.20..i would have a stop just under that low. also,the 50 dma is rolling over, the stock is not showing any signs of strength yet,with the exception of holding that 10.20 low i just mentioned..
It was the 10.20 support that caught my eye first, then I noticed the divergence. Not making a buy or sell recommendation but I'll be watching for an entry point if the volume is there.
which time frame is that on? looks great btw, not unusual to see a shake out first
That's a daily chart. Sorry, I cropped it a bit too much.
I wouldn't expect much more than an $11.50 to $12.00 target. MLNM seems eternally rangebound. But a buck's a buck.
is weekly bullish?
Declining volume points to potential seller exhaustion, I think that divergence has a good chance to achieve $11 + IMHO.
Nice analysis....agree on all points....markets firms and you can produce a nice move off that bottom. Good risk to reward relationship also.
shake out & now target 1 reached
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