|Technical Analysis of Trading Action (OTC:MCLN)|
|By Staff and Wire Reports|
|Friday, 04 December 2009 06:18|
Our subscribers and readers have been e-mailing and giving us very good feedback on the trading action updates for our undervalued stock pick MedClean Technologies Inc. (OTC:MCLN).
Yesterday, there was a lot of volume that came in early in the day and really tried to punch through that key $.04 - $.044 resistance point. The down market day didn't help the cause, but the stock did nicely anyway.
Again, as we told you Thursday morning, this four cent level is a key area that needs to be broken so that it becomes support and the next leg up can begin. Big volume in the morning, could be enough to make that happen.
As you can see on the chart below, the stock gapped up a bit from the previous close and we've now had two positive days in a row of multi-digit percetage gains- including a 12% bump yesterday.
As you can see, we are very, very close to breaking through and seeing another possible run up.
Good luck in your trading today! Our interview with the management team of the company will appear later in the day and at least one financial analyst is covering the stock. We hope ho have his findings for you here next week.
Below are two technical analysts' takes on MCLN: