MCP To $75 In The Next 3 Weeks?

Molycorp had a recent surge in volume and broke out of a perfect symmetrical triangle which also doubles as a inverse head and shoulders reversal. This pattern negates the bigger head and shoulders pattern on the 12 month chart. MCP has earnings soon and it appears that a hedge fund or HNWI is betting on a major beat. MCP is notorious for going on a tear after a breakkout and it looks to be headed to $75 with little resistance ahead.

Advertisements

About Aaron Basile
Market Technician, Equity/Commodity Trader, Austrian Economist, Contrarian Investor

One Response to MCP To $75 In The Next 3 Weeks?

  1. Eduardo Salcedo says:

    Good stuff. Nice Aaron. Keep it up my friend. I made good money today. Thanks

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: