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Home » Unlabelled » MITL Mitel Networks Daily Chart Falling Wedge Positive Divergence

MITL Mitel Networks Daily Chart Falling Wedge Positive Divergence

Keystone entered MITL today, the falling wedge and positive divergence was too compelling to pass up and price bounced at the close. Upside targets are 4.75 (20 MA and resistance), 4.80, 5.00, but, as always, take the profits if they are there, you can always reenter on a pull back. The weekly chart is constructive, unlike many other stocks and indexes that are showing positive divergence for the daily chart but the weekly charts are weak. Therefore, this increases the liklihood that MITL should have the gusto for some higher numbers moving forward. Stochastics went above 50%, watch to see if the RSI does. MITL is a less liquid stock so this increases the liklihood of wild swings. MITL hosts its Analyst's Day on July 6th so the stock should be jumpy into next week. This information is for educational and entertainment purposes only. Do not trade based on this information. Consult your financial advisor before making any investment decision.
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