Friday, June 07, 2013

MHB Dead Cat Bounce?

The above chart of MHB (last trade at 3.41) looks dangerous. It is in the formation of a Dead Cat Bounce or a Bull Trap. The last two red candles portend further downtrend ahead. Be careful if you are playing this counter. It can go much lower. This is my prediction. Whatever you do, you do so at your own risk.