Based of the indicators above, my conclusion is that MKTY shares are under accumulation. It maybe that there is even a “cap” placed on the shares around the $8.00 area to prevent the shares from rising as the accumulation process fills out building its potential position. This is institutional work, we are observing.
- MACD has been on a trading / accumulation cross-over buy signal since mid-May.
- RSI bottomed in mid-May as well, but with the share price trading flat, RSI has lost its upward momentum. Currently we place a neutral opinion on RSI.
- CMF (Chaikin Money Flow) is showing accumulation (green) coming into the shares.
- Price is consolidating between the 50-day and the 150-day. A true buy signal will come when the price closes above the 50-day moving average – now at $9.01.
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