Opinion on  Millennium Cell Inc (MCEL)     Sector: Technology  >  Industry: Electronic Instr. & Controls
MCEL REVERSAL WILL BE STRONG

 WITH ANY GOOD NEWS MCEL 'may' ROCKET.

~200k traded last two minutes.... to the ASK.

TDA Strat desk, MCEL chart 60min :

RSI - Up w/ running divergence
MACD - About to cross (or bounce back down)
+DMI - touched the -dmi, and is UP
Parabolic Sar - Green/Up as of yesterday

There has been a divergence between the RSI and PRICE since 4/30.

Risk... OH TOO HIGH.   What do you think? 

Very risky play here, but i feel confident MCEL will pull it through... furthermore technicals are still following the trend from my previous charts, tomorrow may show confirmation... UP or DOWN.  Money has actually been flowing in, rather than out, it is a mistery who is accumulating MCEL.

So is the risk... as time is ticking on MCEL's highly anticipated reverse merger.  The technicals may have changed, finally for the better.  Some say technicals mean nothing with a stock in this phase of a business cycle, i think it shows the smart money sentiment... with that said this may be the final chart with the original trend lines, as the trend has been broken.

Notes: 

-RSI peaked at ~54 today, even with late profit taking(yes, a few may have made up to 200% or so, from mondays low), MCEL closed with RSI @ ~ 49.06

-RSI divergence seems over, new trend lines needed

-Bullish candles (please correct me if I am wrong, and if you know a match please comment)

-+DMI crossed -DMI (ADX down, no trend strength but still good news coming out of downtrend)

-Closed 'green' on lower volume (still high as hell)

-Tested then Broke .03, then triggered a selloff @ ~.035, confirms resistance, and if broken .056 may be the next stop (SPECULATION)

If you do not have money to risk, don't even look at this stock.

If you know better image settings please post em'.

http://a317.ac-images.myspacecdn.com/images01/8/l_3e07cc91cdd...