MCP – Simple Trading Update – 7 October 2013


MCP is still locked below resistance at the July 23rd high ($8.06).  We prefer our followers (and Merlin) keep their distance, however traders still interested in this stock from the long side could use a close above that level as indicative of a potential move higher.  If it falls below the rising trend line, the downtrend is reaffirmed and new lows are likely.