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Registered User
Joined: 12/2/2004
Posts: 1,775
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MTRX, I like the two month base, and yesterday hinted it might be ready to make a move...volume not great but did increase over past couple of weeks and the price made a decent move. So I entered with a small size at 9.45, and hope to add if price closes above 10. Move above 10 would break current resistance and older resistance too that goes back to June 04, initial target is 11.50, near that June 04 gap. Stop is wee bit below yesterdays low, 9. That's pretty tight stop for such a small size but MTRX can be volatile at times, plus the overall market sorta iffy right now to say the least.
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Registered User
Joined: 12/13/2004
Posts: 76
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Crossing upper priceline connecting two previous highs (9.97-9.85). Decent vol surge to this point. Moment of truth to my analysis.
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Registered User
Joined: 11/5/2005
Posts: 180
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It looks to me MTRX attempted to breakout already on 12/28 on light volume, not the kind of volume you expect for a breakout. This makes me feel as though the breakout failed.
I don't like the weekly chart as stochastics looks overbought and MACD appears to show a downward trend is likely, maybe 8.10 to 8.5 range.
If I owned MTRX and it doesn't break out today or tomorrow (tomorrow maybe pushing it) I would wait for a pullback before I consider buying.
Just my opinion.
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Registered User
Joined: 12/9/2005
Posts: 2
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This one has had a negative TSV divergence since early November. I plot TSV38 with a 22 period MA. During the formation of the base the TSV has been steadily dropping. Time will tell. Good Luck.
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Registered User
Joined: 12/2/2004
Posts: 1,775
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Thanks for replies and a different point of view. Wish I had taken advice, as MTRX about the only stock on my screen and portfolio yesterday out of sync with market spike. But no more, as I stopped out yesterday for a small loss. Had original stop tad below 9, but quickly moved it up after stock showed serious weakness early on with whole market teasing for more downside. But pattern still intact and the drop not high volume, and the 50 ma seemed to act as support...will watch and may re-enter after earnings at some point. Was planning (and hoping) to sell late today into a nice spike as earnings scheduled for tomorrow pre market.
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Registered User
Joined: 12/2/2004
Posts: 1,775
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Oh man, my method bites me this time. I suppose lots of traders adhere to old rule of exiting positions before earnings released. MTRX up 15% pre-market per earnings release. Times like this can make me question my method, but I think I'll stick to it. Better to miss occasional 15% spike than to get caught in occasional higher percentage drop. Someone agree with me please, will make me feel better:) Good thing is that price now spikes out of well defined base, hopefully on high volume, so a good candidate to watch and enter on pullback.
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Registered User
Joined: 10/23/2004
Posts: 251
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Ready to breakout again. notice pull back in low Vol.and today volume kick in again. MS holding up strong
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Registered User
Joined: 12/2/2004
Posts: 1,775
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Bought MTRX again after that last post of mine, for 10.33 on 1/25 with a 1/3 position size, stop on close below 50sma (which barely held recently). If it closes strong today I may add another piece, but this market awful scary acting now...I think it's ready to at least bounce for a short while, and I don't want to think about the alternative.
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Registered User
Joined: 10/23/2004
Posts: 251
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fpetry,
we've been down for 4 to 5 days in a row. now starting to get oversold. I think we can get a decent rally as early as tomorrow. also im watching RADS ALVR OPWV IMOS
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