MPI did a good rally from the 3.30 level, and went to point that I was upset when it did a breakout of the 3.65-3.70 resistance level. I was saying I sold too early and unexpected the rally.
But with a 25x ratio, this seems expensive, and one day after that rally, it retraced yesterday to as low as 3.54 level. Seems a FALSE BREAKOUT. Woohoo! CLap clap!
A False breakout, means another chance to trade this stock. Accumulate near 3.40 level.
EDC is also one of the stock, trying to hit 52 week highs, it successfully did a 7.03 level, but that level ISN'T a breakout yet.
Looking into the Support at only 5m shares with no one having interest to buy it up, this might be a false breakout also.
Trade the range of this inclined triange formation. Buy near 6.5 if it falls that level.
FLI is also consolidating into a semi downtrend trend. Same as other Property stocks there, they are weak and not yet into a medium term uptrend cycle, trade the range up to the 1.30 level.
Another hint is that, usually property stocks are rallying and active at months of July-Sept. I hope they could breakout soon to get the party started.
TRADE the 1.10-1.30 range.
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