MVIS Printing Multiple Bullish Divergences
Today MVIS had a swell in volume to levels not seen since August. The stock dropped and retested its August lows. While this breakdown from tight Bollinger Bands could cause one to be concerned, the chart is showing many bullish divergences.
While the stock has continued to make lower lows since the end of August, the MACD, RS, and Stochastics have all bottomed and have turned up. As buyers stepped in today and picked the stock up from its lows, its probable that a trend change is near.
Also, it was within a few days of today's date in October of 2006 that MVIS began its run which saw it rise 125% by the January CES show.
4 comments:
I am very interested in seeing their results this quarter. There were high hopes coming out of previous quarters, with large order backlogs supposedly closing by Q3. This whole "silence is golden" routine that MVIS has given us lately is annoying as hell, but maybe the'll be able to surprise us.
Crux, I understand that AT is confident. Truly, he must feel like King of the World at this point. However, why not step up and buy say 10K shares on the open market? That would let his money do some talking without putting out a BS press release.
Jake, I wrote this on the 15, before the BS article.
Re yon bullish Mave-stance, I prayeth the lord doth gode your pen true woodshed. Verily.
Folks, write to ir@microvision.com and tell them that you want AT to buy a block of MVIS shares. I have.
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