By Tim - http://stockstobuy.org
The following is technical analysis on Molycorp, Inc. (MCP) stock for April 7, 2011
Molycorp, Inc. (MCP) Support & Resistance Levels - 4/7/11
Resistance Levels: $70, $75
Support Levels: $67.75
http://stockcharts.com - Chart
Molycorp, Inc. (MCP) traded up to $69.80 in afterhours tonight and is showing great strength. Molycorp, Inc. (MCP) will have resistance at $70 followed by $75. MCP is starting to become very overbought and is up roughly 75% off the recent $41.25 low. I added to my MCP short afterhours tonight which bring my average up to $68. This is a small Molycorp short and I won't get aggressive unless we would see another huge up day. MCP stock is a buy on a retest of the 50 day moving average ( currently located at $51 and rising).
Molycorp, Inc. (MCP) Support & Resistance Levels - 4/7/11
Resistance Levels: $70, $75
Support Levels: $67.75
http://stockcharts.com - Chart
Molycorp, Inc. (MCP) traded up to $69.80 in afterhours tonight and is showing great strength. Molycorp, Inc. (MCP) will have resistance at $70 followed by $75. MCP is starting to become very overbought and is up roughly 75% off the recent $41.25 low. I added to my MCP short afterhours tonight which bring my average up to $68. This is a small Molycorp short and I won't get aggressive unless we would see another huge up day. MCP stock is a buy on a retest of the 50 day moving average ( currently located at $51 and rising).
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