Has MPEL Made a Double Bottom Today?

MPEL just hit its 4.15 previous trading low earlier today and has bounced nicely, so far, trading at 4.26. Some more detailed technical analysis has been formed on MPEL in Trading Concepts.

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By SSTtrader | November 19, 2009 | Watch List | 2 Comments |
  • daytrader

    Yesterdays move certainly seems to be a confirmed double bottom from the trading so far. MPEL traded nicely today making a 62% fibonacci retracement off its prior days move to 4.21, a great entry point, then traded higher closing up over 2.5% on decent volume.

  • daytrader

    MPEL traded higher almost 6.5% today and it appears that it will trigger the 5 minute trading time frame wave price target of 5.65 easily. Larger trading time frames MACD signals are also triggering a larger move higher for MPEL.