Eenie MINI Miney Moe

What a rush! Current speculative favorites MIC & NI are still at it, captivating many traders with their recent runs, especially NI.

NI has been on a tear ever since breaking out of a triangle formation around a week ago. From that time, it has been flagging (is there such a word?) upwards. It is now knocking on the door of 20 pesos and there could still be some momentum for NI to push higher. BUT this must consolidate for the moment for the last run. Otherwise, get ready to run with whatever profits are made here. Remember, the multitude of investors above 20 pesos are waiting to get rid of their holdings.

In the case of MIC, it made the days of many for a little while after it hit a high of 6.60. Unfortunately, the intraday chart looked ugly, closing at the opening price of 6.20, giving it a bearish look. I'm now a bit apprehensive about its run. If I'm lucky and MIC tries to go to 6.80, I'm selling.

May the stock gods look favorably on us all.

MIC It Real

Interest has returned to MIC after a long while. After breaking out of what is a mere trading range, 3 days ago, it now has formed what would deem to be a flag.

It is now priced around the 130MA, which is at 5.36. The 130MA has also served as support and hopefully MIC won't fall any further. So if what's forming now is really a flag, our resistance for the next trading day is 5.60 with the target poinitng to 6.80. However we should expect some resistance at 6.60 as the 65MA before it can continue. On the other hand, the MACD shows the 2 lines steady while slowly moving higher.

If one would notice, the GEMINI issues are moving again. NI is suspended pending further explanation of their deal. GEO is moving higher but isn't as strong as before. But MIC...this is a possible tsupitero's delight. Should prices follow expectations, then the price should break out very soon giving us at least a 17% rise in prices.