In Retrospect : MWC, MB, IMP

MWC

MWC continued to trade at support level of 8.90. The 65 day MA and the 130 day MA are starting to converge. There may be a possibility of the stock to move up this week, but the MA’s might prevent the price to move above 9.30. Still avoid this stock, any upward movement may just be a short bounce. If the upward movement breaks resistance at 9.50, this maybe a good sign that the impending descending triangle is invalidated.

MB

Still waiting for passengers to board the long haul flight.

IMP

Symmetrical triangle area pattern for IMP is still intact, but illiquid.

StockWatch (Mar 12-16, 2007): MWC, MB, IMP

MWC(Chart: Daily Resistance: 9.80 Support: 8.90)

MWC is dangerously forming a descending triangle. Recommendation: Avoid for now.

MB (Chart: Weekly Resistance: 1.14/1.24 Support: 1.0)

MB caught my attention because of the divergence between the price movement and the MACD movement. Looks like the bearish sentiment for this stock is slowly being replaced by bullishness. This stock is for those who are comfortable with long haul flight.

IMP (Chart: Daily Resistance: 0.021 Support: 0.019)

IMP seems to be forming a symmetrical triangle. Possible upside of up to 0.029. Recommendation: Buy at 0.019. Sell if it goes below 0.019