MRPL
STILL HANGING AROUND...

In the last 4 months MRPL is resisting thru the Bear trendline, now its just shy of surpassing the 50 and 200DMA resistence line which is at 41 and if it once crosses the 41 then next hurdles comes at 42 which is the 4 month Bear trendline. If it dont cross the 41 and 42 then further weakness will be there. The fall from 63.50 to 30 is not over yet, as it suggest the ongoing emerging Downward sloping channel is still the part of the rally of the fall from 63.50-30. Since the great fall MRPL never tried to retrace the rally, it failed to sustain above the 42.60 which is 38.2% fibo resistence of 63.50-30. As long as it dont cross the 42.60 then the low of 30 is valid one. Once move above the 42.6 will try to correct the great fall upto 50 level. Longer term indicator like RSI is still trading just below mid-point level as CCI too. And the Bollinger Band is getting narrower as week past, suggesting a huge price movement either side is expected after absorbing the volatality. Below 36.60 then only it lead to 30.