RE: Cup & Handle formationDo a Google search on "cup & handle price formation" to learn more about the formation.
I wouldn't have to trade stocks any more if I could precisely predict the timing and prices for only one single stock. Technical analysis, however, has been helpful in helping me to identify entry and exit points with reasonable accuracy.
Notice the bid of 100,000 shares at 9 cents sitting there at the end of the trading day? Some investors / speculators have been accumulating MIP for awhile, without any earth-shattering news. This is good for the Longs.
If I have to hazard a guess, MIP could move towards the right lip at 13.5 cents within 1-2 months. If the move is supported by high volume, MIP could eventually go beyond that resistance. The upside should then be the flip side of the cup, suggesting a minimum price target of about 25 cents in due course.
Happy trading !
FM