MCX - just passed SMA and EMA

[Panthalis]

Hi guys and gals,
MCX might be worth a look. I've been playing this stock for about 1.5-2 years now (through its highs and lows) and have made some nice moolah out of it.

It closed today at 10.15 and has closed over the SMA(13) and EMA(50) for the past 2 days so it seems to be getting some good support. It's not a high volume stock so patience is key but I wouldn't be surprised to see it hit $11 in the next few months.

Here's the website...
http://www.mcshipping.com

[mlegha1]

Broke through it's 50-daySMA too, but the volume is next to nothing.Cannot validate this move unless there is some kind volume to prove it.When did you get in?

[Panthalis]

Broke through it's 50-daySMA too, but the volume is next to nothing.Cannot validate this move unless there is some kind volume to prove it.When did you get in?

I've been in for just over a year but I've been adding over time when it gets low. It's a strange stock in that it doesn't move (volume wise) that much but it has good movements every now and then. Plus they consistently provide a .0625 dividend which is nice :)

[Panthalis]

Up 3.6% for the day...not bad. Looking at the candles, it went above the bollinger bands today for the first time in a long time.
!
Once again not much volume but at least it's increasing!

[Panthalis]

Well volume has increased a bit more today (5700) vs the last few days (2000) and now its going to be testing its 100day MA @ 10.44.

Interesting trend I've noticed is that it seems to have 3 days of gains or losses then it has 1 day of the opposite effect, then it continues on its previous trend.

This being the case tomorrow might be a negative but then the day after should show a positive close again.

Will be interesting to see if I'm right on this.


Edit - News today:

MC Shipping Inc., (Amex: MCX) a Monaco-based liquefied petroleum gas (LPG) maritime carrier, will report earnings for the third quarter of 2006 before market open on Tuesday, November 14, 2006.

The same day, at 11:30 a.m. Eastern Time, MC Shipping will also host a conference call to review the third quarter results as well as management's outlook for the business. The call, which will be hosted by MC Shipping's senior management, may contain information beyond what is included in the earnings press release.

To participate in the call from the United States, please dial (800) 632-4306 approximately five minutes prior to the starting time. To participate in the call outside the United States, please dial (973) 935-8760 five minutes prior to the starting time. The Conference ID is 8074695. Two hours after the completion of the conference call, a digital recording of the call will be available for seven days, and can be accessed by dialing (877) 519-4471 from inside the United States or Canada and (973) 341-3080 from outside the United States or Canada and entering the Conference ID 8074695.

The call, which will be simultaneously broadcast live over the Internet, can be accessed at: http://www.videonewswire.com/event.asp?id=36548

Please log in approximately ten minutes before the start of the call to allow extra time to visit the site and download the streaming media software required to listen to the Internet broadcast.

Additionally, the online archive of the broadcast will be available within one hour of the live call at: http://www.videonewswire.com/event.asp?id=36548

[Panthalis]

Well now, I was right about the 3 days positive, 1 day negative, and then positive again! Pretty chuffed that I called the trend :)

Anyways this little fella got 20k in volume today and finished up again (another 3 day positive run) but I don't really expect it to drop tomorrow (based on their quarterly results, which were not great but wheels are in motion for future plays).

Still predicting a $11 target but somewhere in the next 2months.

FWIW, dropped below SMA and EMA today but it gained over these indicators later in the morning, both the SMA and EMA were tested in the early afternoon but it had support and then a good 10k was bought today.