- Stock has been on a long term uptrend since 2013 but a correction occurred in 2015 resulting in prices undercutting the 200MA
- MCT found support at the $1.3 level and hovered around the range for months before finally resuming its uptrend in 2016
- Following that, a series of high highs and lows were formed and the stock recently broke above its multi year high.
- In recent weeks, a pullback has occurred but it looks like the stock has found support near its 50MA and looks set to resume its uptrend
- Potential entry at current prices ($1.54-$1.56) with a stop placed below the current swing low of $1.5