Molycorp trying to find support

So far it has been a good day today for Molycorp (MCP) after it found support above $4.55 – which is my ultimate line in the sand. As shown by the daily chart, previous support ($4.83) has become resistance. This stock really needs to hold above $5 for me to step back in. Let’s see what happens in the next couple of days.

MCP Daily Chart

MCP Daily Chart

About Stock Trade Journal

The information in this blog is not investment advice. Please consult a financial advisor before investing. I have been trading stock since the 1990's and survived the .com crash. I am developing software applications to help me trade better and now I am making them available to help other traders. This blog is also a way to share my experiences and observations in the market.
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