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Muscle Pharm Corp. Message Board

  • investora2z investora2z Mar 15, 2013 11:15 PM Flag

    Good week

    Last week was good for Muscle Pharm investors. The stock moved above $6.5 with volumes. The volume averages were nearly twice the 10 day and 3 month figures. It gave several closes above this level and also gave a weekly close. In fact, the volumes were significant in the last two days (around 86K). So the momentum is there and there are hardly any major resistances before the $8 mark. Yesterday's high point was $7.35, and that will be a check point now. If Monday shows more momentum and yesterday's high is crossed then one can be convinced that even $8-$8.5 is not far away. Already, it has moved from $4 to $7 in less than 7 weeks. This is a 75% rise. It has paused a little in between with tepid volumes, but resumed the march with strength. $4-$8 would mean doubling of stock in a few months. Any investor would like to participate in such a story. This, perhaps is more of a rub-off effect of the intended listing within the next few months. Investors do not want to miss out on the growth and hence were buyers around the $5.8 levels (short term averages), and then the base took it beyond hurdles. It is possible that the $7.35 does require a few sessions of prodding and a few attempts before it gives way. But now the base level is $6.5 and any dip to that can be a buying opportunity. It is possible that the next few sessions may be quieter and the stock spends some time in the range of $6.8 to $7.5. Any case, the lower supports are more defined, and the upper resistances are less significant. So the odds are more in favor of an attempt to challenge the recent highs. Hopefully, the management will come out with more details on the exact time line for the listing and also the guidance for the next few quarters.

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